Global private equity major, Aureos South Asia Fund has invested $7 million (Rs. 35 crore) in Sai Security Printers, a multi-product packaging company based in Faridabad with operations in Bangalore as well.

Narasappa, Doraswamy & Raja advised Aureos Capital with a team led by Partner Harish B. Narasappa along with Senior Associate Chitra Raghavan and Associates Junaira Rahman and Mukund Thirumalai Srikanth.

Universal Legal advised Sai Security Printers with a team led by Partner Kavitha Vijay along with Senior Associate Sameena Chatrapathy.

According to Dealcurry, the funds raised will be used for expansion of production and technology capabilities, enter into new markets, adding new customers and providing end-to-end packaging and printing solutions while increasingly focusing on high-margin business.

Sai Security is a Sai Group company. It started as security printing and transformed itself into a multi-product packaging company, manufacturing labels and mono-cartons for food and beverage, pharmaceutical and FMCG industries. The company employs 600 people and plans in place to open a new facility at Bangalore and expand the existing facility in Faridabad.

Aureos South Asia Fund is managed by Aureos South Asia Managers, a subsidiary of Aureos Capital. It specialises in providing expansion and buy-out capital to small and medium sized businesses across Asia, Africa and Latin America.

VCCircle reports, Aureos has recently announced that it plans to raise $200 million or Rs 900 crore for its new India fund. The Aureos India Fund II will focus on investing in companies across emerging sectors and target tier II and tier III cities, which remain below the radar of mainstream international investors.

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