Nihilent Ltd., a global consulting and services company, has announced a significant development with the leveraged buyout of its controlling stake by Founder & Promoter LC Singh from NTT Ltd. The exact amount of the acquisition has not been disclosed.
With this acquisition, Nihilent will transition into a management-owned entity. The buyout, amounting to 69.16%, was made possible through debt financing from a consortium of prominent funds, including ICICI Prudential Corporate Credit Opportunities Fund AIF-I of ICICI Prudential Alternate Investments and Piramal Structured Credit Opportunities Fund, the Performing Credit fund managed by Piramal Alternatives Private Ltd., as detailed in a statement by the company.
In a statement, the company expressed that the acquisition of the controlling stake is aligned with Nihilent’s strategic vision and commitment to strengthening its market presence, bringing its IPs & products to market, strategically expanding its current capabilities, and enhancing its offerings in AI, ML, XR & Generative AI.
LC Singh, Executive Chairman of Nihilent, commented on the strategic move, saying, “This strategic move allows Nihilent to regain full control and autonomy over its operations, enabling us to implement our vision and business strategies more effectively. We extend our gratitude to NTT Ltd. for their support and collaboration over the years. Their contributions have been instrumental in our success, and we look forward to building on the foundation they helped us establish.”
Established in 2000 by industry veteran LC Singh, Nihilent is a global consulting and services company known for its human-centric approach to problem-solving and change management. The company has a widespread presence, with operations in South Africa, India, USA, Sweden, UK, and Australia.
