CCI Approves Subscription and Purchase of Zetwerk Manufacturing Businesses Private Limited by AZK4 LLC Under Green Channel

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Aug 30, 2023

CCI Approves Subscription and Purchase of Zetwerk Manufacturing Businesses Private Limited by AZK4 LLC Under Green Channel

CCI Approves Subscription and Purchase of Zetwerk Manufacturing Businesses Private Limited by AZK4 LLC Under Green Channel

On May 19, 2023, CCI approved the subscription and purchase of approx. 2.96% of Zetwerk Manufacturing Businesses Private Limited’s (‘Target’) shareholding by AZK4 LLC (’Acquirer’) through a combination of primary and secondary transactions_^[1].

Parties

The Acquirer is an investment vehicle managed by Avenir Management Company LLC (‘AMC’). AMC is a private equity investment firm which operates under the brand name “Avenir Growth Capital”.

The Target is a manufacturing services provider and caters to businesses in the precision parts, capital goods and consumer goods categories. It provides contract manufacturing services on a B2B basis.

Green Channel Notification

The transaction was deemed approved as there were no horizontal overlaps or vertical or complementary linkages between the activities of AMC and the Target (including their affiliates) in India.

[1] C-2023/05/1029.

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