New York-based private equity firm Delos Capital has acquired Sage Metals Limited, a manufacturer of specialty metal products serving the North American electrical, power utility, industrial, and drainage end markets.
Sage Metals was founded over 30 years ago and is based in Delhi, India.
Delos acquired Sage from its founders, Vinod K Agarwal and SP Agarwal, and partnered with one of the owners, R Krishnan, and a new US based management team in the transaction. Delos raised acquisition financing from Olympus Capital Asia Credit and SSG Capital Management.
“Delos is excited to partner with the Sage management team for the next stage of the Company’s growth,” says Michael Rakiter, Partner at Delos Capital. “Sage has a long history as a best-in-class provider of custom metal fabrication solutions to leading original equipment manufacturers. We believe this partnership will strengthen the Company’s presence in North America and accelerate the business toward significant growth.”
Krishnan says: “We are embarking upon a new and exciting phase in the Company’s journey. Over the years the promoters have built a strong organisation which provides an excellent launching pad for taking the Company to greater heights. Delos, along with their operating partners, have all the elements required to make this happen in the most efficient way.”
