capvent asia picks up 51 % stake in morf india - air purifier reviews uk

Asia consumer fund (Capvent Asia)
The dedicated private equity fund has acquired a 51 stake in moorifu India Ltd. , a Chennai-
Headquartered in the water engineering company, the amount is unknown. According to M. V.
Praveen, general manager of MORF India, will nominate two candidates in the board.
The sponsor is led by Mr.
Praveen, there will be equal representation. The five-
A member of the board of directors will have an independent director. The Asia-
The center fund mainly invests in consumers.
Focus on emerging companies.
The fund usually invests in companies in transition that need to grow capital, sources said. Mr.
Praveen said MORF issued new capital to private equity funds.
However, he declined to disclose the financial details of the transaction.
According to him, MORF has been working in the field of water and sewage treatment for ten years and has carried out several large treatment projects in southern India.
MORF has signed a brand licensing agreement with Electrolux Home Products, he said.
Produce and sell their Kelvinator range of household water purifiers and air purifiers in India and Sri Lanka. Mr.
Praveen said MORF is fine now.
Position the mark on the point-of-
Use water and air purifiers.
He estimated that. of-
Use segment only near Rs. 1,800 crore.
He believes that this will expand the scale of Rs.
It will reach Rs 7,000 in the next few years.
Funding from Capvent AG will be used primarily to develop new products, branding and expansion. Mr.
"We are at a turning point, so this investment is very important to implement our growth strategy at this critical moment," Praveen said ".