On August 3, Private equity firm Advent International announced that it has agreed to pick up a significant majority stake in innerwear maker Dixcy Textiles Pvt. Ltd.Reportedly, Dixcy’s Founder and Managing Director, Prem Prakash Sikka will retain a stake in the company and continue as chairman following the completion of the transaction.AZB & Partners acted for Advent International and...
On August 3, Private equity firm Advent International announced that it has agreed to pick up a significant majority stake in innerwear maker Dixcy Textiles Pvt. Ltd.
Reportedly, Dixcy’s Founder and Managing Director, Prem Prakash Sikka will retain a stake in the company and continue as chairman following the completion of the transaction.
AZB & Partners acted for Advent International and the team was led by Partners Ashwin Ramanathan, Bhavi Sanghvi, Rink Ganguli along with Associate Dhruv Bhutia.
Khaitan & Co advised Dixcy with a team led by Partners Haigreve Khaitan and Abhishek Sinha along with Senior Associate Abhishek Thanvi and Associate Puneet Rathsharma. Partner Adheesh Nargolkar advised on the IP aspects of the trasaction.
It has been said that this transaction is Advent’s fourth investment in India since 2015, following its equity stake purchases in Crompton Greaves, QuESTGlobal Service and ASK Group.