September 13 2010, Mumbai – Advent International, the global private equity firm, has announced the addition of industry veteran Mr. Prakash Kulkarni to its Operating Partner Programme. In his new role, Mr.Kulkarni will advise Advent on Indian investment opportunities to help further the development of Advent’s presence in India.
Mr. Kulkarni was formerly the Managing Director of Thermax Ltd., India’s largest private sector boiler manufacturer. During his seven year tenure as Thermax’s Managing Director, Mr. Kulkarni
transformed the organisation from a company with Rs 300 Cr. of revenue and an operating loss an organisation with Rs 2400 Cr of revenue and an operating profit in excess of 300 Cr.. Further,
Mr. Kulkarni has served as the Executive Chairman at Gabriel India Ltd. since 2008 and an independent director on the Board of Sulzer India Ltd. since 2009.
Mr. Georg Stratenwerth, Managing Director of Advent International’s operations in India said, “There are significant investment opportunities for Advent across key industrial sub-sectors in India, which is a sector of focus for us. Mr. Kulkarni’s valuable experience in some of these subsectors will be beneficial for Advent to differentiate our value proposition to our business partners. It is a great pleasure for us to have Mr. Kulkarni on board with us and we look forward to working with him. ”
Commenting on his new role, Mr. Kulkarni said, “Being a respected global investor, Advent is a very attractive partner to many Indian businesses looking to reach the next stage of their
development and growth. I am excited to be part of Advent’s Operating Partner Programme and look forward to contributing to the objectives of the program with my strong expertise and
strengths in certain sectors.”