Mumbai: Advent International, the leading US-based private equity investor, has acquired Dixcy Textiles Pvt. Ltd, the South Indian firm which sells leading innerwear brand Dixcy Scott. Dixcy’s founder and managing director Prem Prakash Sikka will retain a stake in the company and continue as the chairman following the completion of the transaction, said a company statement. Financial terms and other details were not disclosed.
The transaction is Advent’s fourth investment in India since 2015 following its purchase of equity stakes in Crompton Greaves Consumer Electricals, QuEST Global Services and ASK Group. Avendus Capital was the financial advisor to the promoters of Dixcy.
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