Lighthouse, a middle market private equity firm focused on growth investments in India’s consumer sector today announced that funds affiliated with the firm have made an investment of INR 510 million in Stylam Industries, one of India’s leading laminate manufacturers. The investment will be used to accelerate Stylam’s expansion in the fast growing domestic market.
Incorporated in 1991, Stylam designs, manufactures and markets a wide range of laminates for residential, commercial and industrial purposes. For FY16, the company clocked revenues of approximately INR 2.5 billion and has demonstrated a revenue CAGR of over 22% over the past five years. It is in the process of commissioning a new manufacturing facility that will double its production capacity.
Jagdish Gupta, Managing Director of Stylam Industries said, “We were highly impressed with Lighthouse’s track record of investing in consumer and branded companies and believe that their assistance would be invaluable for us going forward. We intend to use the infused capital for the growth plans of the company wherein we are doubling our production capacity and launching new products.”
“We have been closely tracking the building materials industry in India and are very excited to partner with Stylam. We have great confidence in Stylam’s management team, and believe that the next few years could be transformational for the company,” said Sachin Bhartiya, Partner, Lighthouse Advisors.He added that India’s favourable demographics like increasing urban population, rising per capita income and government’s thrust on housing are set to benefit the home improvement and building materials industry in India.