CX Partners

CX Partners is a private equity firm based in New Delhi, India, established in 2008. The firm specializes in growth equity investments in the middle market, focusing on sectors such as healthcare, financial services, consumer products, outsourced services, and niche manufacturing. In addition to growth equity, CX Partners engages in distressed, turnaround, and mezzanine investments, as well as buyouts and recapitalizations. The firm primarily targets investment opportunities in India and China, aiming to partner with owners and managers of innovative businesses to enhance their strengths and drive growth.

Rahul Agarwal

Principal and Associate Director

Aparajita Ahuja

Managing Director and CFO

Aparajita J. Ahuja

Partner

Jayanta Basu

Chairman

Vivek Chhachhi

Managing Partner

Shishir Jain

Managing Director

Tarun Khanna

Partner

Suman Nandy

Operating Partner

Ajay Relan

Founder and Chairman

Chirag Sachdev

Principal

Vinayak Shenvi

Partner

27 past transactions

JJG Machining Group

Private Equity Round in 2024
JJG Machining Group manufactures and distributes automotive, industrial, and aerospace machining components.

Sekhmet Pharmaventures

Private Equity Round in 2024
Sekhmet Pharmaventures is a Mumbai-based company focused on acquiring controlling stakes in active pharmaceutical ingredient (API) businesses. By integrating inorganic growth strategies with organic development activities, Sekhmet Pharmaventures aims to establish a robust platform in the pharmaceutical sector. The company's approach involves leveraging acquisitions to enhance its portfolio and strengthen its position in the market.

Indifi Technologies

Series E in 2023
Indifi Technologies Pvt. Ltd. operates a digital lending platform that connects lenders with small businesses seeking loans. Established in 2015 and based in Gurugram, India, the company focuses on assisting businesses that often struggle to secure financing from traditional institutions due to a lack of collateral or financial data. Indifi utilizes technology to gather and analyze data from various sources, assessing the creditworthiness and performance of potential borrowers within their respective industries. This approach allows Indifi to identify low-risk, high-potential businesses, thereby expanding access to both short- and long-term funding options. Additionally, the company provides lifecycle support services for lenders, including marketing, customer relationship management, data aggregation, and loan monitoring, while facilitating communication between borrowers and multiple lenders to enhance the likelihood of loan approval.

BetterPlace

Series C in 2022
BetterPlace is a technology platform focused on providing digital solutions for managing the blue-collar workforce across the entire value chain. It aims to address the challenges faced by this often underserved sector by creating a data-driven platform that meets the needs of both enterprises and workers. By fostering a trusting relationship between blue-collar employees and their employers, BetterPlace enhances the quality of life for workers through improved access to job opportunities, financial resources, and health services.

Indifi Technologies

Series D in 2021
Indifi Technologies Pvt. Ltd. operates a digital lending platform that connects lenders with small businesses seeking loans. Established in 2015 and based in Gurugram, India, the company focuses on assisting businesses that often struggle to secure financing from traditional institutions due to a lack of collateral or financial data. Indifi utilizes technology to gather and analyze data from various sources, assessing the creditworthiness and performance of potential borrowers within their respective industries. This approach allows Indifi to identify low-risk, high-potential businesses, thereby expanding access to both short- and long-term funding options. Additionally, the company provides lifecycle support services for lenders, including marketing, customer relationship management, data aggregation, and loan monitoring, while facilitating communication between borrowers and multiple lenders to enhance the likelihood of loan approval.

BetterPlace

Series C in 2021
BetterPlace is a technology platform focused on providing digital solutions for managing the blue-collar workforce across the entire value chain. It aims to address the challenges faced by this often underserved sector by creating a data-driven platform that meets the needs of both enterprises and workers. By fostering a trusting relationship between blue-collar employees and their employers, BetterPlace enhances the quality of life for workers through improved access to job opportunities, financial resources, and health services.

Ummeed Housing Finance

Series D in 2020
Ummeed Housing Finance is a housing finance company that provides home loans and loan against property to lower and middle income families. The company aims to help people with informal incomes, who have limited access to organized finance and who constitute significant portion of the Indian population. Ummeed Housing Finance's services include issuance of home loans and loan against property to improve operational efficiency and reduce turnaround time for customers, enabling low and middle income households to get access to affordable housing loans in an innovative and personalized manner.

Healthium Medtech

Private Equity Round in 2019
Healthium Medtech is one of the fastest growing Global Medtech companies. Founded in 1992, Healthium has 6 state of the art manufacturing locations around the world. The company has 2,600+ employees, with offices in India & UK; manufacturing/ marketing wound closure products, urology products and a range of minimally invasive solutions. Healthium has significant global presence with exports to over 50 countries, including the USA, France, Germany, Italy, Switzerland, Brazil, Mexico, GCC countries, Egypt, Turkey and several Asian countries and trusted by more than 200,000 healthcare professionals across the world. In India alone 10,000+ hospitals are experiencing their world class products through an extensive distribution network.

South Indian Bank

Post in 2019
South Indian Bank Limited is a prominent financial institution in India, established in 1929 in Thrissur, Kerala, during the Swadeshi movement. The bank offers a wide range of banking products and services through various segments, including Treasury, Corporate/Wholesale Banking, and Retail Banking. Its personal banking services encompass savings accounts, term deposits, and multiple loan options such as personal, home, car, and educational loans. Additionally, the bank provides insurance products, money transfer services, and various value-added services, including mobile and internet banking. For non-resident Indians (NRI), South Indian Bank offers specialized accounts and loan products. The business banking segment includes a variety of accounts, loans, and merchant acquiring services. As of 2020, the bank operated a network of 935 branches and 1,424 ATMs/CRMs, making it one of the largest private sector banks in India. Throughout its history, South Indian Bank has been a pioneer in various banking practices, including becoming the first private sector bank in Kerala to open a Currency Chest and implement a Core Banking System.
Thyrocare Technologies Limited is a prominent diagnostic testing service provider in India, established in 1996 and based in Navi Mumbai. The company offers a variety of medical diagnostic tests aimed at the early detection and management of various health disorders, including thyroid, metabolic, autoimmune, and infectious diseases, as well as diabetes, anemia, infertility, and cardiovascular conditions. Thyrocare is notable for its Aarogyam brand, which encompasses 54 profiles of wellness and preventive health care tests. Additionally, the company sells glucometers and glucose strips under the Sugarscan brand and engages in the provision of radio-pharmaceuticals. Operating as India's first fully automated diagnostic laboratory, Thyrocare employs a centralized laboratory model, leveraging advanced technologies to deliver quality reports at affordable prices to patients, laboratories, and hospitals. The company also includes an imaging services segment focused on cancer monitoring and a miscellaneous services segment to further diversify its offerings.

Sapphire Foods

Private Equity Round in 2018
Sapphire Foods India Ltd is the largest franchisee of Yum! Brands in the Indian subcontinent, operating over 400 restaurants, including KFC, Pizza Hut, and Taco Bell across India, Sri Lanka, and the Maldives. The company is dedicated to fostering a culture of teamwork, integrity, and continuous improvement, emphasizing openness and honesty in its operations. By focusing on innovation and striving to enhance its services, Sapphire Foods aims to provide a better dining experience for its customers while maintaining a strong commitment to ethical business practices.

Veeda Clinical Research

Acquisition in 2018
Veeda Clinical Research is a clinical Contract Research Organisation in India with a diverse product offering and a geographical footprint.

Minacs

Acquisition in 2017
Aditya Birla Minacs is a leading business solutions company that partners with global corporations in the manufacturing, retail, telecom, technology, media and entertainment, banking, insurance, healthcare and public sectors. We leverage years of process, domain and technology expertise to deliver superior business value to clients with our seamless Customer Lifecycle, Marketing, Finance and Accounting, Procurement and IT solutions and services. 20,300 Minacs experts across 3 continents and 35 centers spanning Canada, Germany, Hungary, India, Jamaica, Philippines, the UK and USA power our solutions through a global delivery model that helps our clients enhance revenues, profitability and customer service.

NSPIRA Management Services

Venture Round in 2016
NSPIRA Management Services is a professional organization specializing in the education sector, offering a range of customized services designed to enhance operational efficiency for its clients. The company’s team comprises experienced professionals with advanced degrees across various fields, including IT, business management, and healthcare. NSPIRA provides tailored solutions that encompass staffing, organizational development, IT infrastructure, sales and marketing, and facilities management. Additionally, the firm delivers comprehensive administrative services, enterprise resource planning, and educational content creation. By leveraging technology and promoting professionalism, NSPIRA Management Services aims to support clients in optimizing their processes and achieving their organizational goals.

Cremica Food Industries

Acquisition in 2015
Cremica Food Industries Limited, founded in 1978 and based in New Delhi, India, is a prominent food products manufacturer. The company offers a diverse range of items, including biscuits, breads, sauces, gravies, mayonnaise, salad dressings, and snacks, catering to both retail and food service customers. Cremica serves various sectors, including food service chains, hotels, and airlines, and has expanded its reach internationally, exporting to Europe, Africa, the Middle East, the United States, and Australia. The company emphasizes quality and innovation, operating internationally certified production facilities. Notably, Cremica has partnered with major brands such as Quaker Oats and McDonald's, enhancing its product offerings and market presence. Through a commitment to unique recipes and health-oriented ingredients, Cremica has established itself as a leader in the food processing industry, known for its consistent quality and tailored products that resonate with local tastes.

Ujjivan

Private Equity Round in 2015
Ujjivan Small Finance Bank Limited is a banking institution in India that focuses on serving financially unserved and underserved segments, with a commitment to enhancing financial inclusion. Established in 2016 and headquartered in Bengaluru, the bank operates through Treasury, Retail Banking, and Corporate/Wholesale Banking segments. It offers a wide range of banking products, including savings and current accounts, various deposit schemes, and an extensive suite of loan products. These loans cater to diverse needs, such as group loans for business, education, and agriculture, individual loans, housing loans, and loans for micro and small enterprises. The bank also provides mobile, phone, and online banking services, along with debit cards and various insurance products. As of March 31, 2020, Ujjivan operated 575 banking outlets and 475 ATMs across India. It is a subsidiary of Ujjivan Financial Services Limited, which began as a non-banking financial company in 2005, dedicated to serving the economically active poor.

Barbeque Nation Hospitality

Private Equity Round in 2013
Barbeque Nation Hospitality is an Indian food service company that introduced the concept of live grilling of Kebabs to the market. It owns and operates 138 Barbeque Nation brand of casual dining restaurants that offer over-the-table barbeque live grills for diners in 73 cities across India. The company was in 2006 and is headquartered in Bengaluru, Karnataka.

Security & Intelligence Services (India)

Private Equity Round in 2013
Security and Intelligence Services (India) Limited provides private security and facility management services in India and Australia. They offers cash logistics; security services, including manned guarding, cash logistics, and electronic security; and facility management services, such as mechanized cleaning, and pest and termite control services. SiS servers customers that operate in various industries and sectors, which include banking and financial services, IT/ITeS and telecom, automobile, steel and heavy industries, governmental undertakings, hospitality and real estate, utilities, educational institutions, healthcare, consumer goods, engineering, and construction.

Matrix Cellular

Private Equity Round in 2011
Matrix Cellular is a prominent provider of international telecom solutions catering primarily to Indian travelers. Established in 1995, the company offers a range of services designed to enhance connectivity and convenience for leisure and business travelers, as well as students studying overseas. Matrix provides international SIM cards, internet packs for various devices, travel insurance, and forex cards, enabling customers to reduce their international roaming expenses while staying in touch with loved ones. The company has a significant presence in India, with service counters at major airports, which serve both new and existing customers. Matrix's commitment to customer service and its focus on delivering tailored solutions have established it as a market leader in the sector.

NTL Electronics

Acquisition in 2010
NTL Electronics is a manufacturer of electronic products specializing in the lighting industry, based in Noida, India. The company develops a range of products including electronic ballasts, control gears, luminaires, retrofit compact fluorescent bulbs, LED drivers, and LED lighting solutions. NTL Electronics is recognized for its research and development capabilities, responsiveness to market demands, and scalable manufacturing processes, which enable it to meet the diverse needs of its clients. The company operates four manufacturing plants with a combined capacity to produce five million LED products monthly, ensuring reliable performance under India's specific power supply conditions.

Thyrocare Technologies

Private Equity Round in 2010
Thyrocare Technologies Limited is a prominent diagnostic testing service provider in India, established in 1996 and based in Navi Mumbai. The company offers a variety of medical diagnostic tests aimed at the early detection and management of various health disorders, including thyroid, metabolic, autoimmune, and infectious diseases, as well as diabetes, anemia, infertility, and cardiovascular conditions. Thyrocare is notable for its Aarogyam brand, which encompasses 54 profiles of wellness and preventive health care tests. Additionally, the company sells glucometers and glucose strips under the Sugarscan brand and engages in the provision of radio-pharmaceuticals. Operating as India's first fully automated diagnostic laboratory, Thyrocare employs a centralized laboratory model, leveraging advanced technologies to deliver quality reports at affordable prices to patients, laboratories, and hospitals. The company also includes an imaging services segment focused on cancer monitoring and a miscellaneous services segment to further diversify its offerings.
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