Florintree Advisors, an alternate asset management firm owned by former Blackstone India head Mathew Cyriac, has acquired 72% stake in Avasarala Technologies (ATL) in a mix of primary and secondary investment.
Florintree has acquired 45% stake in the Bengaluru-based company with interest in nuclear power and aerospace from the existing private equity investor and the balance by way of primary investment, it said in a press statement on Thursday.
The investment has helped ATL repay all its bank debt and strengthen the balance sheet to focus on growth, it said.
Established in 1985 by former employees of state-owned Bharat Electronics (
), ATL is involv
