Zephyr Peacock acquired stake in Pennar’s subsidiary

Zephyr Peacock, the India's focused private equity firm, has acquired a significant minority stake in Pennar Engineered Building Systems (PEBS) with an investment of Rs. 50 crore. PEBS is a subsidiary of Hyderabad based Pennar Industries Ltd.
“Zephyr’s investment will help PEBS target Rs 1000 crore in sales in the next three years, a CAGR of over 40 per cent. PEBS proposes to achieve this through its aggressive growth plans in international emerging markets, solar infrastructure, high rise commercial buildings and cold form building systems,” a statement released by PEBS said. The company expects to achieve revenues of Rs 325 crore for the financial year 2013, a CAGR of 112 per cent over the last three years.

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