Actis, an emerging markets private equity firm, has invested USD53m in Gtex, a cleaning products company based in Brazil whose stable of brands include, Urca, UFE and Amazon.
Following this investment, Actis will initiate a growth plan for Gtex in the Brazilian market to include new product lines, geographical expansion and acquisitions.
Gtex holds a large portfolio of cleaning products, with a strong presence in segments including laundry soap, fabric softeners, disinfectants, bar soaps, multi-use cleaners and steel wool. Its washing powder Amazon H20, is one of the first eco-friendly brands in Brazil.
Gtex has over 1,000 employees and five production facilities located in the states of São Paulo, Rio de Janeiro, Maranhão, Pernambuco and Mato Grosso.
Neiva and José Santos, the entrepreneurs who founded the company, will keep a stake and continue their involvement in the company’s operations.
“This partnership with Actis will allow Gtex to launch new product lines within the existing portfolio of brands; becoming one of the leading companies in the market,” says José Santos.
Chu Kong, co-head of Actis in Latin America, adds: “Actis’ experience in the consumer and retail sector, and our long term investment approach, will safeguard the success of Gtex, supporting its sustained growth. The expansion plan will be aggressive and will include innovative products lines, geographical expansion and acquisitions that will complement the Gtex portfolio.”
Paul Fletcher, senior partner at Actis, says: “This is Actis’s second deal in Brazil in the last two months and is indicative of the strength of Actis’s commitment to Brazil and the opportunities we see there.”
Actis’s investment in Gtex is funded from the USD2.9bn fund, Actis Emerging Markets 3.
