Everstone invests 60 crore in Ozone

Everstone invests 60 crore in Ozone

Mumbai: Everstone Capital Management has acquired a minority stake in New Delhi-based Ozone Overseas Ltd. by investing 60 crore, Everstone informed in an email.

Ozone is an architectural hardware company that manufactures glass doors, bathroom accessories and balusters for commercial and residential purposes.

Alok Aggarwal, promoter, Ozone Overseas, said that the funds will be used towards building their hardware brand, expanding distribution network and developing their urban infrastructure business.

“Currently, we have a manufacturing facility in Himachal Pradesh. We are looking to set up a new factory down South," he said in a telephonic conversation on Monday. He declined to provide the company’s turnover.

In an email, Jaspal Singh Sabharwal, partner, Everstone, said, “Ozone is among the top three players in the industry, the other players being multi-national companies (MNC) like Hettich and Dorma." Ozone Overseas was advised by Coralbay Advisors and DSK Legal.

Keep up with latest news/ views on the livemint Facebook page

Follow livemint on Twitter for latest news / views / full coverage