UK’s TLG Capital takes 36-% stake in Re-feel Cartridge for $5 million
04 Aug 2010
Re-feel Cartridge Engineering Pvt Ltd, India's largest printer cartridge refill and laptop repair services' company said yesterday that the UK-based private equity firm TLG Capital is investing around $5 million (Rs23.5 crore) for a 36-per cent stake in the company.
Founded in 2007, Kolkata-based Re-feel follows a franchisee business model and currently has its presence at over 110 locations across 75 cities in India, while its wholly-owned ''ClubLaptop'' subsidiary has 24 outlets and Re-feel plans to grow Club Laptop rapidly through the Re-Feel chain of stores.
As Re-Feel offers printer cartridge refill and laptop repair at almost half the price of the authorised service centres, the business venture is an attractive proposition since customers in India are price conscious.
In just three years, Re-feel has spread its network to over 110 locations in over 75 cities, becoming the largest refilling service provider in India.
The company expects to double its refilling outlets by 2013.
The company said that it will utilise the funds for expanding its franchisee network and expanding its chain of laptop repair stores.
