PE firm Advent International buys into innerwear firm Dixcy

Advent International has been investing in India for around 10 yrs; it also has an office in Mumbai

Global private equity firm Advent International on Thursday announced that it has agreed to acquire a significant ownership interest in Dixcy Textiles Pvt Ltd. 

Dixcy is a leading innerwear brand in India. Dixcy’s Founder and Managing Director, Prem Prakash Sikka, will retain a stake in the company and continue as the chairman following the completion of the transaction. 

Financial terms of the deal were not disclosed.

The transaction is Advent’s fourth investment in India since 2015, following its purchase of equity stakes in Crompton Greaves Consumer Electricals, QuEST Global Services and ASK Group.

Located in Tirupur, Dixcy was founded in 1982 by Mr Sikka