ADV Partners and Premji Invest to acquire controlling stake in MPPL
Asian private equity firm ADV Partners and Premji Invest have acquired a notable majority stake in leading plastic molding company Micro Plastics Private Limited (MPPL).
This investment will drive the next stage of MPPL’s growth plans by backing important expansion and development of new manufacturing facilities to serve the growing demand from customers. The investment also increases MPPL’s success and strong revenue growth of more than 20% over the past five years in CAGR terms.
The Bengaluru-headquartered company runs five manufacturing facilities in and around the city. MPPL founder and managing director, Mr. Vijendra Babu, a 25-year industry veteran, will continue to maintain a stake in the business and manage the company along with a very experienced senior leadership team.
Speaking about the development, 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.
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