Home > companies > news > Zephyr Peacock invests `50cr in Pennar Engineered Building Systems

Mumbai: India-focused private equity (PE) firm Zephyr Peacock has acquired a significant minority stake in engineering company Pennar Engineered Building Systems (PEBS) with an investment of 50 crore.

Pennar Engineered is a unit of Hyderabad-based Pennar Industries Ltd.

Zephyr’s investment will help Pennar Engineered target 1,000 crore in sales at an annual average growth rate of more than 40% over the next three years, the company said in a statement.

Pennar Engineered expects 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 generate revenue of 325 crore for the financial year 2013.

“Within a short span of three years, PEBS Pennar has managed to evolve into a premier provider of custom designed building solutions to major industrial and corporate houses in India and Africa. It is our goal to achieve 10 billion ( 1,000 crore) in sales within the next three years," said Nrupender Rao, chairman, Pennar Industries.

Mukul Gulati and Vishal Dixit from Zephyr Peacock will join the board of Pennar Engineered.

“By replacing traditional construction with pre-engineered steel systems, Pennar Engineered is helping the infrastructure sector address the three challenges that matter the most today—capital, labour and time," said Vishal Dixit, director, Zephyr Peacock.

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