Gtex, a Brazilian cleaning products company, has received a US$53m investment from Actis, a global emerging markets private equity firm.
The investment will enable the company to launch a comprehensive growth plan in the Brazilian market, which includes new product lines, geographical expansion, and acquisitions.
Gtex currently has a strong presence in segments including laundry soap, fabric softeners, disinfectants, bar soaps, multi-use cleaners and steel wool with its brands Urca, UFE, Ruth, RIO and Amazon H2O, which are available across Brazil.
The company currently employs over 1,000 people and operates five production facilities located in the states of Sao Paulo, Rio de Janeiro, Maranhao, Pernambuco and Mato Grosso.
Following the investment, founders Neiva and Jose Santos, will maintain a stake in the company and continue their involvement in its operations.
Actis made the investment in Gtex via its US$2.9bn Actis Emerging Markets 3 fund.
FinSMEs
12/11/2010