CLSA invests in Indian water company Luminous Water Technologies

Hong Kong-based brokerage and investment group CLSA Capital Partners has invested Rs550m ($9.2m) in Indian water company Luminous Water Technologies (LWT), part of the SAR Group.

LWT designs, manufactures, distributes and serves water purifier and water filter systems for residential and commercial use. It operates through Livpure, a reverse osmosis (RO) water purifier brand launched in 2012.

CLSA Capital Partners (CLSACP), the alternative asset management arm of CLSA, has invested through its ARIA Investment Partners IV LP and ARIA Investment Partners IV funds.

ARIA managing director Miranda Tang said that the company will help Livpure increase production capacity and build its brand, preparing it for the next phase of growth.

"We worked with the founders of Livpure in the past which ended in a successful trade sale. They have demonstrated the ability to scale up consumer businesses and they have a strong desire to take this business to the next level." Tang added.

Received in a single tranche, the funds will help LWT expand its Livpure brand of RO water purifiers.

SAR Group founder Rakesh Malhotra said: "CLSACP’s investment in Livpure is recognition of the progress made by the Company to emerge as the fastest-growing RO water purifier brand in the country."

Water purification company LWT has a RO water purifier manufacturing facility at Gagret in the Indian state of Himachal Pradesh, with a production capacity of 250,000 RO water purifiers annually.

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Image: LWT operates through Livpure, a reverse osmosis water purifier brand. Photo: courtesy of freedigitalphotos/John Kasawa.