Investcorp, a leading global alternative investment firm, today announced the successful exit of its investment in the publicly listed Safari Industries (“Safari” or the “Company”), one of the largest luggage brands in India.
Investcorp invested in Safari in February 2021. During Investcorp’s ownership period, Safari Industries successfully increased its production capacity and expanded its physical stores footprint in new and under-served markets in India. This transaction marks another significant milestone in Investcorp’s journey of partnering with companies demonstrating high-growth potential in India.
Yusef Al Yusef, Head of Investcorp’s Private Wealth said, “As we expand our investments across India and continuously review and strengthen our portfolio, Safari is another example of how we invest and accelerate the growth in companies with an exceptional market position, solid fundamentals and strong growth potential. This is our fourth exit in India in just a few years, highlighting how our approach of working side by side with ambitious companies to help them generate and realise value pays dividends for both the companies and our investors.”
Commenting on the exit, Gaurav Sharma, Partner & Head of India Investments at Investcorp, added “It gives us immense pleasure to witness Safari Industries’ transformation into a leading luggage brand in India. Millions have trusted and chosen Safari for their travel needs over the years. Collaborating with Sudhir Jatia’s visionary leadership and dedicated team has been a rewarding journey, and this partnership is a testament to Investcorp’s commitment to investing in companies with strong growth potential. We are confident of their continued success in their next phase of growth”.
Speaking on the development Sudhir Jatia, Chief Executive and Managing Director, Safari Industries said, “Working with Investcorp has been an incredible journey. Their partnership and unwavering support have been crucial in propelling Safari Industries to new heights, bringing both scale and success to our endeavors.”
This transaction marks Investcorp’s fourth exit in India over the past two and a half years, following the sale of ASG Eye Hospital, a leading eyecare hospital chain, InCred, a leading tech-enabled financing company and Bewakoof, a leading direct-to-consumer online apparel brand.
In India, Investcorp is an active investor in mid-market companies across consumption-linked sectors and in the real estate business. In the private equity space, Investcorp targets opportunities across the consumer tech, healthcare, financial services, and retail, SaaS, e-commerce, and technology sectors. Its investments over the last four years include V-Ensure, Intergrow Brands, Bewakoof.com, Freshtohome, Zolo, InCred, Citykart, NephroPlus, Unilog, XpressBees, and Safari Industries.
Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes, infrastructure, and insurance asset management. Since our inception in 1982, we have focused on generating attractive returns for our clients while creating long-term value in our investee companies and for our shareholders as a prudent and responsible investor.
Investcorp has today 14 offices across the US, Europe, GCC and Asia, including India, China, Japan, and Singapore. Currently, Investcorp Group has over $50 billion in total AUM, including assets managed by third party managers, and employs approximately 500 people from 50 nationalities globally across its offices.