Chennai: Switzerland-based private equity fund Capvent AG bought a 51% stake in Morf India Ltd, a Chennai-based water treatment and sewage company, for an undisclosed sum.
Morf said it will use the money for its pan-India expansion plans and to develop products.
“Today we are at an inflection point and therefore this investment, at this juncture, is very important to execute our growth strategies,” M.V. Praveen, managing director, Morf India, said in a statement on Tuesday. “Given the rapidly growing size of our industry, it’s time for us to reinvent ourselves and scale up faster.”