Zephyr Peacock, the India focused private equity firm, has acquired a significant minority stake in Pennar Engineered Building Systems (PEBS), a subsidiary of Pennar Industries, with an investment of Rs 50 crore.
Zephyr’s investment will help PEBS target Rs 1,000 crore in sales in the next three years, a CAGR of over 40%. PEBS proposes to achieve this through its aggressive growth plans in international emerging markets, solar infrastructure, high rise commercial buildings and cold form building systems. The company expects to achieve revenues of Rs 325 crore for the financial year 2013, a CAGR of 112% over the last three years.
Pennar Industries is engaged in the manufacturing of Cold Rolled Steel Strips (CRSS) and value-added products under Cold Rolled Formed Sections (CRFS) like precision tubes, engineered components, road safety systems, parts of railway coaches and Electro Static Precipitators (ESP).
