Tega Industries Ltd. Logo Thumbnail Image


Date May 12, 2011
Source TA

TA Associates Completes Minority Investment in Tega Industries Ltd.

BOSTON and MUMBAI, May 12, 2011 – TA Associates, a leading growth private equity firm, today announced it has completed a minority investment in Tega Industries Ltd., a global leader in the design and production of consumables for the mining industry. Terms of the investment were not disclosed.

Headquartered in Kolkata, India and founded in 1976, Tega offers a range of products and services used in mining, mineral processing, screening, grinding and material handling. Tega’s primary offering is customized wear-resistant mill liners that are used for grinding and sizing of mineral ores. Tega has manufacturing facilities in India, South Africa and Chile, with sales and support offices in 14 countries and customers in 62 countries.

“We’re delighted that TA Associates is investing in Tega at such an exciting time for the business,” said Madan Mohanka, CEO and Founder, Tega Industries Ltd. “We are pursuing a variety of growth strategies, including increasing share in existing markets, entering new geographies and expanding our range of offerings. We are confident TA will prove a valuable partner in these endeavors.”

“We are pleased to invest in a company with a record of impressive growth and profitability, and a stable and experienced management team,” said Dhiraj Poddar, Director, TA Associates Advisory Pvt. Ltd., who will join the company’s Board of Directors. “Tega is a recognized leader in rubber mill liners, which are a critical component in driving efficiency, saving costs and determining overall product quality. The company has embarked on an acquisition-led growth strategy and, given its well-established and highly reputable brand, we anticipate continued global opportunities for Tega.”

“TA Associates’ investment will help us drive Tega to the next level,” said Mehul Mohanka, Executive Director, Tega Industries Ltd. “Few investors offer TA’s more than 40 years of experience and $16 billion in capital raised, and we will certainly benefit from their financial support, strategic guidance and significant network of contacts globally. We look forward to a long and successful partnership.”

The overall mill liner industry is estimated at more than USD $1 billion and has historically been dominated by steel liners.

“Rubber liners offer several advantages over steel, including a significantly lower overall cost, and therefore continue to gain market share,” said Naveen Wadhera, Director, TA Associates Advisory Pvt. Ltd. “The remainder of the mining consumables market offers additional opportunities for Tega, which is increasing its addressable market through the introduction of new ancillary products. With a well-earned reputation for product quality and durability, and after sales service, Tega has established a strong presence in a healthy marketplace and is well positioned to continue its impressive growth.”

TA Associates has more than four decades of investing experience, focusing on profitable growth companies. TA’s previous investments in India include Dr Lal PathLabs, GlobeOp Financial Services, Idea Cellular and Micromax Informatics Limited.

Khaitan & Co and Goodwin Procter LLP provided legal counsel to TA Associates, and Argus Partners served as legal counsel to Tega. Avendus Capital Private Limited provided financial advisory services to Tega. TA Associates Advisory Pvt. Ltd. provided advisory services on the investment.

About Tega Industries Ltd.
Headquartered in Kolkata, India, Tega Industries is a global provider of consumables for use in the mineral beneficiation, mining and bulk solids handling industries. The company offers a range of rubber, polyurethane and ceramic based lining products, as well as value-added consultancy services and solutions tailored to specific customer needs. Tega has customers in 62 countries and physical presence in 14 countries. For more information, please visit

About TA Associates
Founded in 1968, TA Associates is one of the largest and most experienced middle-market growth private equity firms. The firm has invested in over 400 companies and has raised more than $16 billion in capital. With offices in Boston, London, Menlo Park and Mumbai, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at