Key Takeaways
- • Kotak Alternate Asset Managers (Kotak Alts) announced an investment of nearly $34.5 million (Rs 325 crore) in Gainwell Group, made into Indocrest Transportation Pvt Ltd (ITPL), the holding company for the group's manufacturing and mining businesses.
- • Proceeds are earmarked for expanding manufacturing and mining operations and refinancing existing debt, with the aim of letting Gainwell direct more operating cash flow toward growth.
- • Gainwell is an authorised Caterpillar dealer across North and East India, Nepal and Bhutan, and operates across construction and mining equipment, underground mining equipment, cranes, defence equipment, natural gas compression and technology solutions.
- • The deal is positioned by Kotak Alts as long-term capital tied to India's continued investment in manufacturing and infrastructure.
Summary
Kotak Alternate Asset Managers Ltd (Kotak Alts) announced on Thursday that it has invested nearly $34.5 million (Rs 325 crore) in Gainwell Group. The investment was made in Indocrest Transportation Pvt Ltd (ITPL), the holding company for Gainwell's manufacturing and mining businesses. According to Kotak Alts' statement, the capital will support the group's expansion plans across those businesses and allow it to refinance existing debt.
Kotak Alts said the investment will provide Gainwell with long-term capital and enable the group to direct a larger share of its operating cash flows toward business growth. Gainwell is led by Chairman and Managing Director Sunil Kumar Chaturvedi, who said the partnership would support the group's next phase of expansion across its manufacturing and services businesses, both in India and overseas.
The group operates across construction and mining equipment, underground mining equipment manufacturing, mining services, cranes and material handling equipment, defence equipment, natural gas compression equipment and technology solutions. Its flagship company, Gainwell Commosales Pvt Ltd, is an authorised Caterpillar dealer across North and East India, Nepal and Bhutan, and the company also undertakes underground coal mining operations.
Amit Jain, CEO of Kotak Yield & Growth Fund, said Gainwell has built a strong manufacturing and mining platform supported by its longstanding Caterpillar association and a demonstrated ability to build and scale businesses. He said the investment would provide flexible, long-term capital and that Gainwell is well placed to benefit from India's continued investment in manufacturing and infrastructure.
Kotak Alts, part of the Kotak Mahindra Group, was established in 2005 and has raised, managed and advised more than $22 billion across private equity, real estate, infrastructure, special situations, private credit and investment advisory businesses.
Kotak Alts said the investment will provide Gainwell with long-term capital and enable the group to direct a larger share of its operating cash flows toward business growth. Gainwell is led by Chairman and Managing Director Sunil Kumar Chaturvedi, who said the partnership would support the group's next phase of expansion across its manufacturing and services businesses, both in India and overseas.
The group operates across construction and mining equipment, underground mining equipment manufacturing, mining services, cranes and material handling equipment, defence equipment, natural gas compression equipment and technology solutions. Its flagship company, Gainwell Commosales Pvt Ltd, is an authorised Caterpillar dealer across North and East India, Nepal and Bhutan, and the company also undertakes underground coal mining operations.
Amit Jain, CEO of Kotak Yield & Growth Fund, said Gainwell has built a strong manufacturing and mining platform supported by its longstanding Caterpillar association and a demonstrated ability to build and scale businesses. He said the investment would provide flexible, long-term capital and that Gainwell is well placed to benefit from India's continued investment in manufacturing and infrastructure.
Kotak Alts, part of the Kotak Mahindra Group, was established in 2005 and has raised, managed and advised more than $22 billion across private equity, real estate, infrastructure, special situations, private credit and investment advisory businesses.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.