Carlyle invests $25 mn in Visen Industries

NEW DELHI: International asset manager, The Carlyle Group, has invested $25 million in emulsion manufacturer Visen Industries through an affiliate, First Carlyle Ventures III (FCV III). The funds will be used to expand Visen's manufacturing capacity in India and abroad.

"Growing disposable incomes and increasing urbanisation are fuelling the end consumption demand for paints, textiles, adhesives and construction, which leads to growth opportunity for high quality players such as Visen," said Shankar Narayanan, Managing Director and Head of Carlyle Growth Capital in India.

Visen, founded in 1985 by first generation entrepreneur Vijay Nair, manufactures water-based polymer emulsions, which are used by companies in industries like paints, textiles, adhesives and construction. Carlyle's FCV III fund is an India-focused fund that is part of the $1.04-billion sector agnostic Carlyle Asia Growth Partners IV, which invests in high growth companies in Asian markets. The Carlyle Group, which invests across the globe, has $107.6 billion of assets under management through 84 funds.