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06 Dec 2020

Everstone to acquire controlling stake in Calibre


Mumbai, December 06, 2020 – Singapore headquartered Everstone Capital (part of the Everstone Group) “Everstone”, has signed an agreement to acquire a controlling stake in Calibre, a specialty ingredients player focused on the pharmaceutical, nutritional and personal care segments.

Founded in 1984 by Ranjit Bhavnani, Calibre is a leading specialty ingredients player in Iodine Derivatives, Persulfates and Perchlorates. Calibre’s customers span across US, Europe, Asia and exports contribute approximately two-third to its revenue. Calibre is headquartered in Mumbai and has state of the art manufacturing facilities at Sarigam, Gujarat conforming to globally recognized certifications and registrations such as FDA, REACH, FSSAI and ISO.

Commenting on the investment, Sameer Sain, Co-founder and CEO, Everstone Group, said, “Calibre is a high quality and a globally established player with significant untapped potential. Combining the founding family’s entrepreneurial skills and strong governance with Everstone’s operational expertise and experience, we expect Calibre to excel, innovate and scale.”

Sharing his views, Ranjit Bhavnani, Founder, Chairman and MD, Calibre said, “This is a game changer moment for us at Calibre and it marks the transformation of the company from a family owned to a professional one where we will continue to participate actively. We could not have found a better majority partner than Everstone as we together embark on a journey that looks both promising and fulfilling.”

Trivik R. Bhavnani, Board member, Calibre said “We are excited at the prospect of the significant value addition that we believe will be brought by the Everstone team. We are extremely impressed with the dedication and commitment shown by Everstone in understanding Calibre and reaching an agreement in a short period of three months.”

Everstone is one of the largest India and South East Asia focused investor specializing in rolling up assets within its platforms. Everstone’s portfolio companies include one of the largest nutraceutical ingredients business OmniActive, complex generic and specialty pharmaceutical products manufacturer Slayback Pharma, domestic pharma distribution platform Ascent Health amongst others. Last year, Everstone announced its successful exit from Rubicon Research (Rubicon) generating returns of 4.5x.

JM Financial and Alantra advised Calibre and Everstone respectively. JSA and KPMG acted as the legal and financial diligence advisors to Calibre. Cyril Amarchand Mangaldas and Ernst & Young acted as the legal and financial diligence advisors to Everstone.

About Everstone Group

Everstone is one of Asia’s premier investment groups focused on cross border North America – Asia investments as well as domestic investments in India and Southeast Asia. The group has assets more than US$5 billion across private equity, real estate, infrastructure, and venture capital. Everstone has a significant resource base across its offices in New York, India, Singapore, London, and Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com and LinkedIn

About Calibre

Calibre is a specialty ingredients player catering to several resilient and growing end industries such as pharmaceuticals, nutrition and personal care. The company has well entrenched customer relationships in over 75 countries worldwide. To know more: www.calibrechem.com