Private Equity

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Safety equipment seller Karam Group in talks with Lighthouse, Multiples, MO Alternates to raise $100

Mint  

Noida-based industrial safety equipment-focused Karam Group is in talks to raise between $70-M and $100-M from private equity investors, including Lighthouse Funds, Multiples, and Motilal Oswal Alternates. The company is seeking a valuation of $600-M for the potential transaction. EY is acting as the advisor to the fundraising process, which is currently undergoing due diligence.Founded in 1998 by Rajesh Nigam and Hemant Sapra, Karam manufactures over 100 products, including personal protective equipment, safety helmets, protective workwear, and fall protection equipment for the healthcare, industrial, and consumer sectors.The company plans to use the new funds to accelerate growth, professionalise its operations, and facilitate succession planning.