Actis Buys General Lighting Business of Halonix for US$24 Million (Asia)

Source: VCCircle  |  Author: Bhawna Gupta

Pan-emerging markets private equity firm Actis has bought the general lighting business of India-based automotive and general lamp manufacturer Halonix for INR1.6 billion (approximately US$23.9 million). As part of the deal, Halonix transferred its general lighting business, which manufactures and sells compact fluorescent lamps, luminaires and LED technology-based lighting products, to its subsidiary Halonix Technologies, and sold it to Actis. Actis structured the transaction through its affiliates Argon South Asia and Argon India. Halonix, which is majority owned by Actis, has retained its automotive lighting unit. Actis originally acquired a stake in Halonix in 2006.