(BRIEF) EQT Private Capital Asia has completed the sale of its remaining 26. 7% stake in CMS Info Systems Limited, India’s leading money control company, through a $187 million block transaction. During EQT’s ownership period, CMS strengthened its market leadership, achieving significant EBITDA expansion and margin expansion while implementing robust governance measures. In particular, CMS has demonstrated resilience in the face of crises such as the demonetisation of the Indian currency and the COVID-19 pandemic. Under EQT’s leadership, CMS has transformed into an incorporated banking company. provider of answers, showing accelerated expansion and positioning for greater fortune under the leadership of the Chief Executive Officer, Mr. Rajiv Kaul.
(PRESS RELEASE) STOCKHOLM, February 28, 2024 — /EuropaWire/ — EQT will announce that BPEA Private Equity Fund VI (“EQT”) has sold its remaining 26. 7% stake in CMS Info Systems Limited (“CMS” or the “Company”), indexed on Indian stock exchanges, in a $187 million block transaction.
Headquartered in Mumbai, India, CMS is the country’s largest money monitoring company and offers ATM money control, retail money control, money in transit control, ATM-controlled services, banking automation, and AI-powered remote tracking solutions. CMS has more than 25,000 workers and associates, dealing with more than 150,000 business issues in 97% of India’s districts.
Under EQT’s ownership, CMS consolidated its market leadership, achieved productivity gains that resulted in an increase in EBITDA margin, and instituted a world-class governance framework. Through a combination of constant role optimization, strategic mergers and acquisitions, and new profit opportunities. , the company effectively went through two periods of crisis, namely the demonetization of the currency in India in 2016 and the COVID-19 pandemic. In addition, it has effectively met the challenge of new electronic payment systems, which are emerging to be more resilient to these developments. Since the creation of EQT With this investment, the company has tripled its EBITDA, with an accelerated CAGR of 34% over the past two years.
Ashish Agrawal, Partner in the Investment Advisory Team at EQT Private Capital Asia, commented: “CMS continues to benefit from the strong expansion of the Indian banking sector, supported by the government’s proactive measures to promote monetary inclusion. Over the years, CMS has effectively reshaped to become an embedded banking solutions provider, and we are proud to have been a part of this journey. It was absolutely exciting to work with the CEO, Mr. Rajiv Kaul, and his entire team. We CMS is very well placed under his able leadership and we wish the company the best of luck in its next phase of expansion. “
CMS businesses include Monetary Logistics, Banking Automation, Controlled Services, Remote Tracking Solutions, and Generation Solutions. With more than 25,000 employees and associates, handling more than 150,000 business matters in 97% of India’s districts, the company is now a market leader. in money logistics, ATM software solutions and AIoT remote tracking (banking segment).
More information: https://www. cms. com/
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SOURCE: EQT
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