Re-feel acquires 36 per cent stake from TLG Capital

Re-feel Catridge Engineering Pvt. Ltd, a company for printer cartridge refill and laptop repair services, has announced that TLG Capital is investing around five million USD for a 36 per cent stake in the company. TLG Capital is a UK based private equity company that invests in emerging markets and is going to focus on working with Re-feel to expand its operations in India.

Samit Lakhotia, Director Business Development, Re-feel informs, “We welcome the addition of this dynamic firm, who will work with us to consolidate and grow our business within India and overseas. The access to fresh capital will allow us to grow in accordance with the market and will help Re-feel stay ahead in the business. TLG’s network in sub-Saharan Africa will also prove invaluable to Re-feel’s expansion beyond Indian borders.”

Besides this, Re-feel is aiming to double its refilling outlets via franchising by 2013. Established in 2007, the company works on franchisee business model and currently has its presence at over 113 locations in 75 cities across the country. Another division of Re-feel, ClubLaptop has also expanded its network to over 35 stores in over 25 cities.