The expansion plans of INOXCVA received a boost recently when Standard Chartered Private Equity (SCPE) invested $45m approx. in a minority stake in the company.
The cryogenic storage and transportation equipment manufacturer plans to use the newly injected funds for its organic expansion plans and potential acquisitions.
One growth opportunity in particular for INOXVA is the rise of shale gas as a fuel source, which has increased demand for cryogenic storage equipment for LNG across the globe.
As a top five global player in cryogenic equipment manufacturing, INOXCVA is well placed to leverage these growth opportunities and Siddharth Jain, sponsor from INOX India Limited, commented, “INOXCVA is the supplier of choice for global industrial gas majors and oil services firms. Over the next few years our aim is to have a significant presence in all major global markets including Europe.”
“Our partnership with Standard Chartered will help us in leveraging the bank’s extensive reach and access its global oil and gas relationships.”