Mid-market private equity firm Jashvik Capital has secured a substantial stake in Midas Hygiene, a manufacturer of pest control and home care products, as announced in a joint statement on Monday. While the exact investment amount remains undisclosed, sources indicate that Jashvik Capital has acquired a majority stake in the Mumbai-based company. Previous investments by Jashvik have typically ranged from $25 to $30 million.
Midas Hygiene offers consumer products for pest control and home care under brands such as Laxmanrekhaa, Khatnil, and Sanipic. The company distributes its products nationwide through a traditional retail model, supported by long-term channel partners and a sales force of over 200 employees.
This marks Jashvik Capital’s fourth investment from its inaugural fund, which aims for a total corpus of $350 million. The firm has previously invested in Jabsons Foods, based in Bharuch, and Futura Surgicare in Bengaluru. Recently, it was reported that Jashvik acquired a majority stake in Smart Vision Eye Specialities Pvt. Ltd., an eye care chain located in Hyderabad.
Pranay Kapoor, the promoter of Midas Hygiene, expressed gratitude for the company’s growth, attributing it to the vision of his late father, the dedication of employees and partners, and the loyalty of consumers. He emphasized excitement for the future and confidence in Jashvik Capital’s expertise in consumer branded products to help elevate the company further.
Naresh Patwari, founder and managing partner of Jashvik Capital, noted the increasing demand for pest control and home care products. He praised the strength of Midas Hygiene’s brands and the quality of its team and partners, expressing a desire to leverage these strengths for innovative consumer solutions and growth.
Both companies estimate the pest control market in India to be around $1 billion, with the home care category valued at approximately $10 billion.
