TLG Capital has closed its first deal in India with Re-feel Cartridge Engineering.
The company is India’s largest and fastest growing printer cartridge refill and laptop repair services’ company.
Re-feel’s cartridge refilling service costs a third of the original manufacturer’s price.
Re-feel’s wholly-owned ClubLaptop subsidiary will offer laptop repairs at half the price of the original manufacturer. ClubLaptop will have set up over 300 local repair stores nationwide by 2013.
Zain Latif (pictured), principal of TLG Capital, says: “Not only is Re-feel’s distribution network within India phenomenal, the environmentally-friendly aspect of reusing cartridges fits in well with our double-bottom-line agenda. In just three years, Re-feel has expanded its network to 109 cartridge refill stores in 70 cities, becoming the largest refilling service provider in India. By 2013, we expect the company to double its refilling outlets. Given Re-feel’s access to India’s middle-class, we will be able to provide other related services in the future.”
Alkesh Agarwal, chief executive of Re-feel, says: “We welcome the addition of this dynamic firm, who will work with us to consolidate and grow our business within India and abroad. The access to fresh capital will allow us to grow in accordance with the market and will provide an edge over our competitors in this space.”
TLG Capital’s Sidarth Menon has been appointed chief financial adviser at Re-feel.
