Quadria Capital invests Rs.500-Cr in diaper brand Nobel Hygiene

Mid-market Private Equity firm Access PE (via Access India Fund and also its co-investors) has exited its total stake in Mumbai-based diaper brand Nobel Hygiene and achieved 8x returns with 28% IRR. The stake was acquired by the healthcare-focused Quadria Capital, which invested INR 500 crore in the transaction, including as primary capital, and acquired a further stake from CLSA Capital. Veda Corporate Advisors acted as exclusive bankers to this transaction and Mulla & Mulla were the legal advisors to Access India Fund. Access India Fund had invested in Nobel in 2013 when it was a INR 112 crore business with a leadership in the adult diaper segment, with its brand "Friends". During Access's investment period, Nobel has consolidated its adult diaper leadership and made inroads in baby diapers with a five-fold growth in revenue. Today, Nobel has three major brands in the diaper segment today: Friends, Snuggy and Teddyy.