Azalea Capital Partners LLP is pleased to announce that it has acted as the Sole Advisor, Deal Structurer and Arranger for ₹ 200 crore Acre ARC and KKR deal. The transaction involved ACRE ARC, controlled by Singapore-based alternative investment fund Ares SSG, and Nomura, acquiring US private equity giant Kohlberg Kravis & Roberts Co’s (KKR) share of debt in engineering company Walchandnagar Industries Ltd. (WIL), leading to KKR’s complete exit from its investments in the company. Azalea Capital Partners LLP’s involvement encompassed a spectrum of crucial tasks including transaction structuring, due diligence, and negotiation and finalization of definitive documents between the involved parties. Acre and Nomura jointly acquired entire term debt, totalling ₹230 crore.
This strategic deal holds immense significance for Walchandnagar Industries Ltd. (WIL) as it substantially alleviates its debt burden, thereby facilitating a smoother path for repayment. Consequently, the company is poised to experience a notable improvement in its overall performance. The settlement of debts has also paved the way for WIL to raise equity through preferential allotment from investors.
About Walchandnagar Industries Ltd.:
Walchandnagar Industries Ltd. (WIL) is a renowned Indian company established in 1908 by industrialist Late Seth Walchand Hirachand Doshi. Initially focusing on sugar manufacturing, it diversified into heavy engineering and manufacturing in 1965. Today, WIL operates in niche sectors like Aerospace, Defence, and nuclear equipment alongside traditional businesses such as sugar plant equipment and cogeneration boilers. Listed on the BSE and NSE stock exchanges in India.
About Azalea Capital Partners LLP:
Established in 2017, Azalea Capital Partners LLP, a Mumbai-based boutique investment bank, specializes in structured and distressed financing solutions for underserved Indian mid-caps. Co-founded by Emkay Global Financial Services and Abhijit Shrivastava, it leverages extensive market expertise to tap into lucrative credit opportunities. Emkay Global Financial Services Ltd., founded in 1995, is a respected name in the financial services sector, providing research-backed financial advice and wealth creation services to a diverse clientele worldwide, including FIIs, mutual funds, banks, corporate houses, and HNIs.
