AVTEC Announces Exit by Actis and Private Equity Investment by Warburg Pincus (Asia)

Source: AVTEC

Global private equity firm Warburg Pincus has acquired a minority stake in AVTEC, an Indian manufacturer of engineering products and automotive components. As part of the investment, Warburg purchased the stake previously held by emerging markets investment firm Actis, which invested US$17.8 million in AVTEC in 2005. Financial details of the transaction were not disclosed.