EILSF Exits Sutures India with 3.2x Returns as CX Partners Buys Stake for US$37 million (Asia)

Source: VCCircle  |  Authors: Madhav A. Chanchani and Bhawna Gupta

Evolvence Capital, a Middle East and India-focused private equity firm, has sold its entire equity stake in Indian surgical consumables manufacturer Sutures India to Indian private equity firm CX Partners for US$37 million. Evolvence Capital had invested in Sutures India in September 2009 through its healthcare and life sciences-focused private equity fund Evolvence India Life Sciences Fund (EILSF), and earned a 3.2x cash multiple through the sale.