News
Warburg Pincus acquires a majority stake in Ebco, the largest Indian player in the furniture fittings & architectural hardware space Aug 16, 2024
Mumbai, August 16, 2024
Ebco Private Limited (“Ebco” or “the Company”), the largest Indian player in the furniture fittings and architectural hardware segment, announced today that Warburg Pincus, a leading global growth investor, has acquired a majority equity stake in the Company. The promoters will retain a significant minority stake in Ebco and will be actively involved in the future growth of the business.
Founded in 1963, Ebco is one of India’s oldest and most prominent furniture fittings and architectural hardware brands. Based in Mumbai, the Company offers a wide range of products with 4,500+ SKUs across categories spanning bed and wardrobe fittings, kitchen systems and accessories, office furniture fittings, window and door hardware, and furniture lights. Ebco has cemented itself as a leader in the industry by building an extensive distribution network with 5,500+ retail touchpoints across the country and operates three state-of-the-art manufacturing plants in Maharashtra with robust R&D and design capabilities.
Geoffrey Nagpal, Managing Director, Ebco said, “Ebco’s leadership position today is a testament to its wide and high-quality product basket, deep manufacturing capabilities, and extensive distribution network. I have been fortunate enough to witness the Company’s transformation over the last 60 years alongside Ashley Nagpal, Rajesh Nair, and Nishant Nagpal, who have been pivotal in the journey of Ebco’s evolution into one of India’s most trusted brands in this space. The Company is at an exciting phase of growth, and we are thrilled to partner with Warburg Pincus at this stage. This partnership will enable the Company to capitalize on the strong industry growth prospects, deepen its presence in every part of the country, and grow as a manufacturing powerhouse supporting the Government’s ‘Make in India’ initiative.”
Anish Saraf, Managing Director, Warburg Pincus India said, “We believe that the Indian furniture fittings and architectural hardware industry is poised for significant growth over the next several years, underpinned by tailwinds from favourable demographics fuelling real estate demand, rising furniture modularization, and increasing home renovations. Ebco has been a pioneer in this industry with its innovative, functional, and high-quality products. We are highly impressed with the Company’s journey so far and believe it is well-positioned to capitalize on these tailwinds. We look forward to partnering with Ebco as it embarks on its next phase of growth.”
Avendus Capital was the exclusive financial advisor to Ebco.
About Ebco:
Headquartered in Mumbai, Ebco was founded in 1963 as a tool room and subsequently diversified into furniture hardware. Today, it is one of India’s leading manufacturers of furniture fittings. The Company sells furniture fittings and architectural hardware under brands such as Ebco, Livsmart, and Worksmart through an extensive network of distributors that supply to over 5,500 hardware retail outlets. It operates 3 manufacturing facilities in Maharashtra with a team of over 700 employees. It’s manufacturing plant in Vasai houses its R&D infrastructure including its design department and tool room, and is ISO certified in three standards ISO 9001: 2015, 14001: 2015 and 45001: 2018. For more information, please visit: ebco.in
About Warburg Pincus:
Warburg Pincus LLC is a leading global growth investor. The firm has more than $83 billion in assets under management. The firm’s active portfolio of more than 225 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Since its founding in 1966, Warburg Pincus has invested more than $117 billion in over 1,000 companies globally, across its private equity, real estate, and capital solutions strategies. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, Sao Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com.