According to reports, Helix Investments has invested in M.E Energy Private Limited, a thermal engineering company for minority stake in the company.
The funds will be used for capacity expansion and to fuel growth in thermal engineering solutions.
Corporate Finance Associates India, was the exclusive financial advisor to ME Energy for this transaction.
M.E Energy is the manufacturer of Energy Saving, Heating and Cooling Systems. It provides energy efficiency and waste heat recovery solutions to a wide range of industries for process heating/cooling and secondary power generation with a ‘concept-to-commissioning’ approach.
It also manufactures related products including hot air and hot water generators, heat exchangers, and pressure vessels. Its clients base includes Britannia, Deepak Fertilizers, Andhra Petrochemicals, Wartsila, VVF, Ford Motors, Linde Engineering etc.
The M.E Energy investment is the second in the industrial sector for Mauritius-based Helix Investments, previously it invested in Gujarat based Hi-Rel Electronics Pvt. Ltd.
Helix is a $100 Mn PE fund founded in 2007 and invests between $5-20 Mn per transaction. Past investments include Mahesh Tutorials, India’s leading school tutoring company, and LearningMate, a leading provider of e-learning solutions engaged in content development, learning applications, and learning management systems.
Helix had also invested in Calorie Care, a provider of customized, calorie-counted meals and OSi, a medical transcription services provider. Focus areas for Helix include consumer goods, business services including IT and ITeS, industrials and education. Helix typically acquires minority stakes but has also done management buyout deals involving majority stakes.