Argand Partners acquires Sigma Electric Manufacturing Corporation Private Limited

Luthra & Luthra Law Offices [L&L] advised Argand Partners, a Private Equity firm headquartered in New York City, for acquiring 100% stake in Sigma Electric Manufacturing Corporation Private Limited [Sigma India] and GSCP Sigma Holding Corporation [Sigma], from its owners Goldman Sachs Private Equity and other shareholders.

The transaction, which is Argand's first investment in India, is stated to be the second largest secondary buyout by a Private Equity fund in the manufacturing sector in recent years.

The Firm advised & assisted Argand Partners in the acquisition of Sigma's assets in relation to its Indian subsidiary, Sigma India; by structuring the Indian leg of the acquisition, particularly from Indian Company law and foreign exchange law perspective.

The transaction team was headed by Partners - Samir Dudhoria, Sundeep Dudeja, Aniket Sengupta & Damini Bhalla. Partner - Anshul Jain advised on corporate laws & corporate advisory roles; while Partners - Lokesh Shah & Sanjeev Sachdeva advised on Direct tax & Indirect tax related issues respectively.

Advising on certain aspects of structuring under foreign exchange laws was Partner- Saurabh Tiwari; while Partner- Sachit Mathur provided guidance on real estate aspects of the diligence.