RR Kabel, one of the leading building wires and low voltage cables manufacturers in India has been acquired by TPG Capital. The Texas-headquartered firm has taken over a significant minority stake, as per said in a statement.

The transaction will help to boost the Mumbai-based group in order to expand its business. RR Kabel reported a net profit of Rs 86 crore along with a revenue of Rs 1,615 crore for the fiscal ended March 31, 2017, with Leveraging its distribution network, the company recently launched consumer appliances portfolio including fans, lighting equipment, switches, water heaters, and air coolers.

Managing Director of RR Kabel,  Shreegopal said. “In TPG, we have found the right partner to help RR Kabel reach the next level, as we look to strengthen our brand, expand our product offering, and develop our presence in more markets across India.”

Puneet Bhatia, Co-Managing Partner at TPG Capital Asia said, “Within the building materials segment, we have witnessed a growing consumer preference for established and organized brands like R R Kabel. This, combined with India’s strong housing market, positions the company well for significant growth,” “The founder family has built an impressive portfolio, a resonant brand and a deep distribution network. We look forward to partnering with R R Kabel in their next chapter.”

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