Precision engineering firms turn to private equity to fund next phase of growth
CTC Group, started by Ramesh Kumar Agarwalla and Gokul Kumar Agarwalla in 1983, has mandated Avendus Capital Pvt Ltd as an adviser to sell a minority stake and raise about $50 million to fund its growth plans, at least two people said. Hical, based in Bengaluru and founded by Shashikiran Mullur in 1988, is looking to raise a similar amount for a minority stake sale, they added.
