Actis eyes Halonix General Lighting Business

Actis is a leading private equity investor in emerging markets and has been investing exclusively in these markets for nearly 60 years. It have raised over US$ 7.3 billion funds to date and have over 100 investment professionals in 9 offices throughout Africa, China, Latin America, South and South East Asia. Actis is committed to promoting the sustainable growth of the private sector in the emerging markets. Its aim is to ensure that the capital we raise and manage makes a lasting, tangibleHalonix Limited (formerly known as Phoenix Lamps Limited), promoted in the year 1991 as an Indo Japanese Joint Venture, is counted amongst the most preferred manufacturers and suppliers of Compact Fluorescent Lamps for General Lighting and Halogen Lamps for Automotive. The company saw change in ownership in the year 2007 and was taken over, by Actis, a major Private Equity player. After which, there has been a reorganization in the management structure that has resulted in increased business activity across the globe.Actis which is a private equity firm, which owns 66% in Halonix since 2007. Even then Actis is planning to buy Halonix general lightening business. After the deal Halonix which is based in Noida will only be left with automotive lightening business. SSPA & Co Chartered Accountants and PricewaterhouseCoopers have been appointed by Halonix, which will value the general lightening business of the company. As per an organisation restructuring, Halonix it is hiving off the non-automotive lighting business into a wholly owned subsidiary Halonix Technologies.According to JM Trivedi, South Asia head of Actis, said: "General lighting is a relatively young business which is not profitable and needs more investment. It is being unlocked from the automotive piece to generate value for the shareholders."