Pune-based Virgo Engg gets $10mn from Tano

Pune based flow valve manufacturing company Virgo Engineers is planning to grow inorganically by acquiring overseas units as well as entering new lines of products or businesses.

The expansion and acquisitions would be financed partly from the recent fund infusion of $10 million by private equity firm Tano Capital.

"We have achieved 30-35% growth per year in the last two years, and would grow to Rs 500 crore in three years. The market is growing fast, and we need to ramp up our presence by acquisitions and new lines of businesses,"  V R Jayaraman, director and CEO of Virgo Engineers, said.

The company supplies valves to end users in the oil and gas segment and also to project contractors who work for the end users, he added.