Premji Invest and Asian private equity firm ADV Partners announced today that they have acquired a significant majority stake in leading plastic molding company Micro Plastics Private Limited (MPPL).
This investment will catalyze the next stage of MPPL’s growth plans by supporting significant expansion and development of new manufacturing facilities to cater to increasing demand from customers. The investment also builds on MPPL’s success and robust revenue growth of over 20% over the past five years in CAGR terms.
MPPL is headquartered in Bengaluru and operates five manufacturing facilities in and around the city. MPPL founder and managing director, Mr. Vijendra Babu, a 25-year industry veteran, will continue to retain a stake in the business and drive the company along with a very experienced senior leadership team.
Commenting on the investment, Mr. Suresh Prabhala, co-founder and managing partner at ADV Partners, said, “The market opportunities for Micro Plastics are significant and, together with Premji Invest, ADV Partners looks forward to working with Mr. Babu to significantly grow the business as well as to help build the toy manufacturing ecosystem within India, through skill development and other initiatives.
“ADV Partners’ investment in Micro Plastics is a continuation of our efforts to back Indian entrepreneurs who have established market leadership in specific manufacturing segments in India while contributing to the Indian government’s long-term ‘Atmanirbhar’ (self-reliance) vision.