Home Dating asia Warburg picks majority in Imperial Auto; Info Edge buys Aisle

Warburg picks majority in Imperial Auto; Info Edge buys Aisle

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Warburg Pincus, through its subsidiary Stone Plant Investments BV, has acquired a majority stake in Faridabad-based Imperial Auto Industries. In another development, Info Edge has acquired a 76% stake in dating app Aisle for Rs91 crore ($12 million).

Warburg takes majority stake in Imperial Auto

Private equity firm Warburg Pincus, through its subsidiary Stone Plant Investments BV, has acquired a majority stake in Faridabad-based Imperial Auto Industries Limited and its affiliates.

Founded in 1969, Imperial is the largest manufacturer of fluid transmission products (FTP) for the automotive and off-road industries. The group has over 20 manufacturing sites in India, Germany and the United States, and a product library of over 25,000 Stock Keeping Units (SKUs) used in a wide range of FTP applications.

“This investment will help us fund our future growth plans, which include expanding capacity, creating premier facilities for domestic and overseas customers, and accelerating product development related to electric vehicles. Our association with Warburg Pincus should enable us to attract more high quality talent to Imperial and bring new capabilities to market, said Tarun Lamba, Managing Director and CEO of Imperial.

The Imperial Group, which generates revenue of approximately Rs 2,200 crore, offers a diverse product portfolio that includes rubber hoses, metal/nylon tubing and hose assemblies, as well as battery cooling products used in electric vehicles.

Info Edge buys dating app Aisle

Info Edge announced on Tuesday that it has acquired 76% of dating app Aisle for Rs 91 crore ($12 million). With Aisle and Jeevansathi, InfoEdge will seek to bolster its offering in the matchmaking segment, it said in a statement.

The funds will be used to further strengthen Aisle’s position in the high-intent dating market in India, Info Edge said in a statement. Able Joseph, Founder and CEO of Aisle, will continue to manage Aisle with the support of Info Edge’s infrastructure and ecosystem.

“While most of our competitors focused on engagement through gamification, we went against conventional wisdom and focused on unsubscribing. We optimized our products for our members to meet someone special and are leaving the platform. While this decision has made it difficult to raise venture capital, success stories and word of mouth have helped us stay in the game and become the market leader in high-intent dating,” said Joseph.