Joulon Acquires Majority Stake in Sara Sae, Multiples Alternate Asset Management Exits (Asia)
Posted On: 23 Jan 2017 | Source: Livemint | Author(s): Swaraj Singh Dhanjal, Deborshi Chaki
Joulon, an oil and gas asset management services platform established in 2015 by global investment firm KKR and industry veteran Deepak Munganahalli, has acquired a majority stake in India-based drilling equipment manufacturer Sara Sae. As part of the transaction, India-focused private equity firm Multiples Alternate Asset Management, which originally invested in Sara Sae in 2011, has reportedly exited its stake in the company. Joulon is backed by KKR Asian Fund II. Financial details of the transaction were not disclosed.