Private Equity Fund Investments
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 “Friendsâ€. 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.
From the Venture Intelligence PE-VC Deal Database: Between Feb-13 and Feb-15, Nobel Hygiene had attracted INR 120 crore from Access PE and CLSA Capital. Access had made a part exit in Feb-15 as part of the CLSA investment. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.) From the Venture Intelligence Private Company Financials Database: Nobel had reported an operating income of over INR 420 crore for FY20. (Subscribers to the database can login to view the detailed
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