TPG Growth has made a $150 million investment in Tessolve, a leading semiconductor engineering services company.
Khaitan & Co advised TPG Growth on this investment.
The core team consisted of Kartick Maheshwari (Partner), Gautam Suseel (Partner), Hardik Bhatia (Partner), Sweta Rao (Counsel), Shreyas Bapat (Principal Associate) and Rhythm Chopra (Senior Associate).
The core team was supported by the due diligence team comprising Nirupam Lodha (Partner), Shivangi Narang (Principal Associate), Vivek Narayan (Senior Associate), Simran Sharma (Senior Associate), Toshani Mukherjee (Senior Associate), Associates Insaf Ahamad T K, Tasneem Husain, Vidya Shenoy, Harshit Sawale and Ajay Kranthi Kothwal.
Cleary Gottlieb also advised TPG Growth on this investment.
Trilegal provided comprehensive legal advisory to Tessolve and the Hero Group on all aspects of the transaction, including structuring, documentation, regulatory compliance, and negotiations.
The transaction team was led by Amit Khansaheb (Partner), Vishruta Kaul (Partner), Kirti Balasubramanian (Partner), with support by Sanchita Kumari (Senior Associate), Advaye Sawhny (Senior Associate) and Paarth Samdani (Associate).
Aparna Mehra (Partner), along with Kshitij Sharma (Senior Associate) and Ashlesha Singhal (Associate), advised on competition law aspects.
Vishruta Kaul (Partner), Kanishka Maggon (Partner), and Kirti Balasubramanian (Partner), along with Manu Gupta (Counsel), Sanchita Kumari (Senior Associate), Advaye Sawhny (Senior Associate), Tania Gupta (Senior Associate) and Associates Paarth Samdani, Neha Koppu, Riya Thawani, Farhana Akhtar, and Trisha Bhayana, worked on due dilligence.
Cyril Amarchand Mangaldas advised Novo Tellus, an existing shareholder in Tessolve, on this transaction.
The transaction team was led by Aditi Manchanda (Partner), with support from Kushal Ramotre (Director - Corporate Transactions) and Kaushik Raichura (Associate).
Thangadurai V.P. (Principal Associate) assisted in taxation aspects of transaction.
Founded in India in 2004, and late acquired by Hero Electronix in 2016, Tessolve is a partner to 18 of the world’s top 20 semiconductor firms and employs over 3,500 engineers across offices.
Tessolve plans to use the funds to strengthen global delivery centres, expand advanced test labs, and enhance its end-to-end semiconductor engineering capabilities.
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