Carlyle Group acquires minority stake in DEE Piping Systems

Private equity firm The Carlyle Group has acquired a significant minority stake in Faridabad-based DEE Piping Systems, a company into design and fabrication of high-quality pressure piping systems, for an undisclosed sum.

''The company has emerged as a significant player in the global pre-fabricated piping industry by virtue of being the largest non-captive pressure piping systems provider in India and amongst the top 10 in the world,said K L Bansal, founder, chairman and managing director, DEE Piping.

"We are extremely happy to partner with Carlyle. We expect to leverage Carlyle's international brand equity, global resources and strong sectoral expertise to further grow and diversify our business domestically as well as globally.''

The equity for the transaction came from First Carlyle Ventures III, whose affiliate is advised by The Carlyle Group. Carlyle's investment has been made through a mix of primary infusion in the company and purchase of secondary stake from other investors.

''DEE Piping has built an extremely successful business with strong capabilities across multiple dimensions – deep relationships with its marquee customers, state-of-the-art infrastructure, comprehensive product and service offering, a pool of skilled workforce, and a consistent track record of timely delivery of quality products. We are excited to partner with DEE Piping and will leverage Carlyle's global resources and deep industry expertise to support the growth and expansion of the company,'' said Shankar Narayanan, managing director and co-head of the Carlyle Asia growth capital team.

The Carlyle Group has invested $1.3 billion of equity in more than 30 transactions in India as of 30 June 2015.