Photo:Mumbai: Private equity firm KKR-owned oil and gas asset management services platform Joulon has bought a majority stake in Sara Sae Pvt. Sara Sae, established in 1980, manufacturers hi-tech drilling equipment for land and jack-up rigs and other equipment used for oil well drilling. In its first deal in 2011, Multiples had acquired a significant minority stake in Sara Sae for an undisclosed amount. “Joulon has acquired a controlling stake in Sara Sae through a secondary purchase of Multiples shareholding and an infusion of primary capital. The transactions value Sara Sae at around Rs220-230 crore post money, he added.

Source: Mint January 22, 2017 23:18 UTC