PE-VC Fund Investments
A91 Partners invests Rs.300-Cr in Spacewood Furnishers
A91 Partners has invested INR 300 crore to acquire a 25% stake in Nagpur-based Spacewood Furnishers , a modular furniture manufacturer, valuing the business at INR 1,200 crore. Prior investors Brand Capital and Sumitomo Forestry, who invested in 2015, have fully exited their holdings in the company.Founded in 1996 by Kirit Joshi and Vivek Deshpande, with Nitin Sudame joining in 2011 to establish the Spacewood Office Solutions (SOS) brand, Spacewood sells modular furniture for homes, offices, and educational institutions.The firm will use the fresh capital for brand building, operational strengthening, technology upgrades, process automation, and talent acquisition to enhance its operations and retail presence. The company operates over 35 exclusive stores across 20 cities and maintains a dealer network of over 500 partners in 150 towns and cities.
In Oct 2015, Spacewood Furnishers had attracted about USD 14 M from Sumitomo Forestry and Bennett Coleman & Co.
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