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| TLG Capital acquires 36% stake in Re-feel Cartridge Engineering |
| Announcement / Corporate Aug 03, 2010, 19:59 IST |
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Re-feel Cartridge Engineering Pvt Ltd, India’s largest and fastest growing printer cartridge refill and laptop repair services' company has announced that UK based private equity company investing in emerging markets, TLG Capital is investing around USD 5 million for a 36% stake in the company. The company which follows a franchisee business model will utilise the funds for expanding its franchisee network and expanding its chain of laptop repair stores.
Samit Lakhotia, Director – Business Development of Re-feel said: “We welcome the addition of this dynamic firm, who will work with us to consolidate and grow our business within India and overseas. The access to fresh capital will allow us to grow in accordance with the market and will help Re-feel stay ahead in the business. TLG’s network in sub-Saharan Africa will also prove invaluable to Re-feel’s expansion beyond Indian borders.”
Zain Latif, Principal of TLG Capital said: “It is a first deal for TLG in India. Re-feel’s distribution network within India is phenomenal. We will be able to provide other related services in near future. We will also look into replicating this business in sub-Saharan Africa given the similarities between Africa and India. Exporting stream-lined, efficient and cost-effective business models and technology from India to sub-Saharan Africa is a core theme for us.”
TLG Capital's Sidarth Menon has been appointed Chief Financial Adviser at Re-feel. TLG will focus on working with Re-feel to expand its operations in India including taking its services into new areas such as print managed services and printer servicing. In just three years, Re-feel has expanded its network to over 110 cartridge refill stores in over 75 cities, becoming the largest refilling service provider in India. The company expects to double its refilling outlets by 2013. Re-feel’s high-quality, environmentally-friendly cartridge refilling service costs a third of the original manufacturer’s price.
Targeting to the same consumer segment, Re-feel’s wholly-owned “ClubLaptop” subsidiary will offer laptop repairs at half the price of the original manufacturer. ClubLaptop also offers a more personalised and quicker turnaround of repair and will rapidly expand leveraging on Re-feel’s existing outlets also.
About Re-feel Cartridge Engineering Pvt Ltd:
Re-feel Cartridge Engineering Pvt Ltd is India’s largest printer cartridge refill and laptop repair services’ company with its head office at Kolkata, India. Established in 2007 after an extensive research on the cartridge industry for over 3 years; Re-feel works on a franchisee business model and currently has its presence at over 113 locations across 75 cities in India. Re-feel’s high-quality, environmentally-friendly cartridge refilling service costs a third of the original manufacturer’s price. Re-feel’s wholly-owned “ClubLaptop” subsidiary now offers a more personalised and quicker turnaround of laptop repairs at approximately half the price of the authorized service centres. More information about the company is available at www.re-feel.in/
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