Ozone Overseas Secures INR 250 Crore Growth Capital from Nuvama Private Equity

Oct 03, 2023

New Delhi, Delhi, India – Business Wire India Ozone Overseas, a renowned brand in the home and office improvement solutions market, today announced that it has successfully secured INR 250 crore growth funding from PAG-backed Nuvama Private Equity's latest late-stage/pre-IPO series of funding. With this investment, Ozone Overseas aims to bolster its existing growth chart by expanding its manufacturing capacity, reinforcing brand presence, and exploring potential synergistic acquisitions.

Established in 1999, Ozone Overseas has emerged as a trusted market leader, providing a diverse range of 5000+ products, including Glass Fittings, Shower Enclosures, Kitchen and Furniture Fittings, Door Fittings, Railing Solutions, Fingerprint Locks & Digital Safes. The company's adherence to international quality standards, a robust distribution network of 7000+ retailers, and outstanding after-sales service have solidified its position as an industry frontrunner.

Mr Alok Aggarwal, Chief Executive Officer and Managing Director, Ozone Overseas, highlighted the growth prospects enabled by the capital infusion, stating, ''By leveraging this capital, we are well-positioned to accelerate our growth trajectory. Our focus remains on building a consumer-first brand that resonates across touchpoints, including franchise outlets, e-commerce platforms, experience centres, and an extensive retail network. Strengthening our after-sales service and delivering solution-focused products will further enhance our customer experience. As we expand our manufacturing and R&D facilities, we proudly contribute to the Make in India for the World journey. With our strategic network expansion into tier 2 and tier 3 cities, we aim to bring our innovative home and office improvement solutions closer to a wider audience.'' Commenting on the investment, Mr Pranav Parikh, Managing Partner, Nuvama Private Equity, said, "This investment seamlessly aligns with Crossover's investment philosophy of backing industry leaders who have a demonstrated track record and exhibit robust growth prospects. The strong momentum in commercial and residential segments is expected to lead the demand for ancillary building and architectural hardware solutions that Ozone Overseas specializes in. The inherent growth in these markets is further enhanced by structural trends such as premiumization as well as increased use of modern materials and feature-rich designs, driving up the volume and value of architectural products used across home and office markets." He further added, "Unlike other home improvement categories, this space is still highly fragmented, with a large share being catered by unorganized players. We see an increasing shift from unorganized to organized and expect consolidation of market share among a few large players over the next decade. In our view, Ozone Overseas, given its brand, market reputation, omnichannel approach and high-quality management team, is very well-positioned to take a disproportionate share of this opportunity." Over the past two decades, Ozone Overseas has established an extensive network of retailers across India, a robust global supply chain, and a sophisticated logistics network. The company's technical support and product development enterprise have further solidified its position as a leading Make in India brand worldwide.

About Ozone Overseas Evolving from a vision to create high-value customer-centric products that supply to Indian and global markets, Ozone Overseas has become an integral part of the architectural hardware and security segment today.

The organization's commitment to excellence and developing innovative solutions has helped cater to architects, builders, planners, and homeowners across India and the world. Over the last two decades, the group has successfully created a footprint that spans across the USA, Germany, Turkey, Italy, UAE, and other countries, besides its home base in India.

The current portfolio has over 5000 products classified under the following categories: • Glass Fittings • Door Hardware • Kitchen & Furniture Fittings • Automatic Doors • Railing Fittings • Demountable Partitioning Systems • Smart Devices • Fingerprint Locks • Safes Contributing to the Make in India movement with its homegrown solutions, the brand has brought consistency in development to major cities across the nation. As part of the next phase, the organization is now focusing on expanding its base to tier 2 and 3 cities by providing end-to-end residential and commercial solutions that strengthen India's national stance in the global market.

For more information, visit www.ozone-india.com About Nuvama Private Equity Nuvama Private Equity is part of the Asset Management business of the Nuvama group - one of India's leading wealth management firms with client assets of over ~ INR 2,25,200 Cr (~USD 27 bn), servicing ~10,87,564 affluent individuals & HNIs and ~2,945 of India's wealthiest families as of Q4 FY23. Nuvama's investment expertise and high-touch services span major asset classes and a suite of wealth management solutions, including investment advisory, estate planning, investment management, securities and broking for individuals and institutions, CXOs, professional investors and family offices. PAG, one of the leading alternative investment firms focused on Asia Pacific, holds a majority stake in a partnership with Edelweiss Financial Services Ltd, one of India's leading diversified financial services companies, to form our company Nuvama Wealth Management Ltd.

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