India Development News & Foreign Investment Opportunities

KKR completes US$510 million Ramky share acquisition

REEL provides solutions to Indian community

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REEL provides solutions to Indian community

KKR.

Global investment firm KKR has completed the acquisition of 60% stake in Ramky Enviro Engineers Limited (REEL) for US$510 million, acknowledging the company’s role in providing critical solutions to communities across the country.

The acquisition is funded via a combination of primary and secondary investments. REEL a leading provider of environmental services and solutions in India and overseas.

In addition to investing in REEL from its KKR Asian Fund III, the investment is part of KKR’s Global Impact strategy, which is focused on identifying and investing behind businesses with positive social or environmental impact that measurably contribute solutions to one or more of the United Nations Sustainable Development Goals.

REEL Managing Director and CEO M. Goutham Reddy said: “India is home to some of the world’s most pressing waste management needs, and REEL has an important role to play in providing critical solutions to communities across the country.”

“KKR’s expertise in environmental issue management, extensive global and local resources, and aligned vision to enact positive change makes KKR the ideal partner to help us keep pace with the environmental challenges facing our society and provide impactful solutions. We are off to a great start with multiple strong hires added to the management team and process enhancements work to better our ESG efforts,” he said.

KKR Managing Director Rupen Jhaveri elaborated: “Supporting promising companies that offer solutions to global challenges in areas such as the environment, health and human capital has become an increasingly important focus for KKR worldwide.”

REEL is exemplary in being a comprehensive environmental management company whose work supports the Swachh Bharat (Clean India) Mission to reduce pollution and improve critical sanitation infrastructure nationwide, he pointed out.

“We are confident that, with our industry experience and resources, REEL will be better positioned to achieve its social mission over the long term,” said Jhaveri.

Robert Antablin and Ken Mehlman, Co-Heads of KKR Global Impact, said: “Responsibly managing waste is a critical global challenge, particularly in one of the world’s fastest growing nations. We believe REEL will address this critical need while advancing two of the United Nations Sustainable Development Goals.” fiinews.com

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