Amicus Capital has led the first round of external investment in Aequs Private Ltd., a contract manufacturing company based in Bangalore, by providing a fresh capital infusion of $27.50 Mn.
Aequs Private Ltd. plans to use the newly infused capital to expand its manufacturing capabilities in the Aerospace, Toys, and Consumer Durable Goods sectors to cater to both domestic and multinational OEM clients. This investment is intended to prepare the company for its upcoming phase of growth, as reported by BW Disrupt.
Aravind Melligeri, Chairman & CEO of Aequs, expressed excitement about the new funding and remarked, “The equity investment by Amicus Capital marks the first external funding into Aequs and sets us on a new trajectory to further expand operations in the three current verticals and continue to provide world-class manufacturing solutions to our global customers.”
Aequs is a diversified manufacturing partner that serves both global OEMs and domestic players. The company has fully integrated manufacturing operations in three clusters located in North Karnataka, namely the Belagavi Aerospace Cluster (BAC), Koppal Toys Cluster (KTC), and Hubballi Durable Goods Cluster (HDC).
“Each cluster is the first of its kind in India and brings unique capabilities to its respective market,” the company said in a release.
Mahesh Parasuraman, Co-Founder and Partner at Amicus Capital said, “With its marquee customer base, state-of-the-art infrastructure, and vertically integrated manufacturing capabilities, Aequs is uniquely positioned to play a significant role in India’s emergence as a global manufacturing power-house.”
Aside from its manufacturing clusters in North Karnataka, Aequs also operates aerospace manufacturing facilities in the US (Paris, Texas) and France (Cholet). In 2016, the Belagavi Aerospace Cluster (BAC) was honored with the “Global Airbus Innovation Award” and was recognized as the world’s first of its kind.