Global investment firm KKR has signed a definitive agreement to pick up a 60 per cent stake in Hyderabad-based Ramky Enviro Engineers Ltd, a leading provider of environmental services and solutions in India and abroad, for about ₹3,635 crore ($530 million), through a combination of primary and secondary investments.
The deal values Ramky at about ₹6,345 crore ($925 million). KKR’s investment in Ramky Enviro marks one of the largest buy-outs in India and is also stated to be the first private equity buy-out in the highly attractive environmental services sector.
Ramky Enviro manages, collects, transports and processes hazardous, municipal, bio-medical and e-waste, and also recycles paper, plastic and chemicals. It also focusses on renewable energy generation. Ramky Enviro has a presence in over 60 locations across 20 cities in India and a presence in South East Asia, West Asia and Africa.