Millennium Post

Swiss PE fund Capvent AG picks up 51% stake in Morf India

Switzerland-based PE fund Capvent AG has picked up 51 per cent stake in MORF India, a Chennai-based water engineering company for an undisclosed amount. MORF would use the capital infused to take its operations to national level by 2013 and the major spending would be on brand campaigns and new product development.

‘This capital will be channelised into developing new and innovative products, brand campaigns and also in the national expansion plans by this year end,’ a company statement said. Talking about the investment, M V Praveen, managing director, MORF India, said: ‘Today we are at an inflection point and therefore this investment, at this juncture, is very important to execute our growth strategies.
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