Nine Rivers Capital Invests $7M In Global AgriSystem

Nine Rivers Capital Limited (NRC), an SME-focussed private equity firm, has invested $7 million in New Delhi-based Global AgriSystem Pvt Ltd (GAPL).

Along side the investors, the promoters of GAPL have also participated in this funding round. Corporate Finance Associates (CFA) India acted as exclusive advisors to GAPL for this transaction.

GAPL is promoted by Ramesh Vangal-backed Katra Group along with Gokul Patnaik, an agriculture supply chain veteran. The company offers procurement, storage, processing and distribution services for fresh fruits & vegetables. It operates six agri-hubs in and plans to expand its footprint to 20+ agri-hubs over the next three years.

GAPL recently acquired a company having a brand as well as distribution for exotic vegetables supplying to more than 150 leading hotels in the country.

GAPL chairman Gokul Patnaik says, "with rising discretionary spending in India, consumers are demanding all season availability of quality fresh produce. GAPL is well positioned to act as a smart supply chain enabler for its clients, be it organised retailers, processors or others, such as hotels."

According to Kunal Kumthekar, Founder-Director, Nine Rivers Capital Holdings Pvt. Ltd, "GAPL can aspire to grow manifold as a leader and provide strategic direction to the fresh produce SCM business in the country."

The private equity firm had earlier picked up a minority stake in Navi Mumbai-based Pranav Construction Systems for Rs 50 crore. Pranav Construction is a formworks engineering solutions provider. Nine Rivers also put Rs 27.5 crore in GPT Infraprojects Ltd (GPT), a Kolkata based company providing infrastructure enabling services. The mid-market private equity firm achieved the first close of its debut fund at $46 million in the first half of 2009. It aims to raise $125 million.


About Corporate Finance Associates

Corporate Finance Associates is a major investment banking services firm, providing middle-market companies with a wide range of financial advisory services in support of mergers, acquisitions, divestitures, capital sourcing, and corporate restructuring. From project inception to completion a senior principal guides clients through every challenge, advocates on their behalf, and leverages CFA's experience and extensive resources. CFA has over 25 offices in United States, three in Canada, three in India and 12 partner offices throughout Europe. More information about buying or selling a business is available via the Internet at www.corporatefinanceassociates.com.