Private equity firm Gulf Capital on Monday said it has fully exited its oil and gas logistics platform, Kuiper Group, via a strategic sale to Asian Energy Services, a publicly-listed Indian energy and mining services company. Separately, ITC Ltd. said it will increase its stake in Indian baby care brand Mother Sparsh from 26.5% to 49.3% with a fresh investment of Rs 81 crore ($9.5 million).
Asian Energy buys Kuiper Group from Gulf Capital
Private equity firm Gulf Capital has fully exited its oil and gas logistics platform, Kuiper Group, via a strategic sale to Asian Energy Services, a publicly-listed Indian energy and mining services company.
The deal, which follows a carve-out of Kuiper’s Australian operations last year, marks Gulf Capital’s complete exit from the business.
Asian Energy will acquire 100% of Kuiper from both Gulf Capital and the founders of Kuiper and OCB Oilfield Services. The acquisition will be funded through a combination of internal accruals and debt.
Kuiper generated $68 million in revenue in 2024 and operates across 15 countries.
ITC increases stake in Mother Sparsh to 49.3%
ITC Ltd. will increase its stake in Indian baby care brand Mother Sparsh from 26.5% to 49.3% with a fresh investment of Rs 81 crore ($9.5 million).
The additional capital will be infused in two tranches—a combination of primary subscription and secondary share purchase—and is expected to be completed by the end of the first quarter of FY26–27.
Following this, ITC’s total investment in Mother Sparsh will rise to approximately Rs 126 crore ($14.8 million). The company had first picked up a minority stake in the brand in 2021.
ITC also said it expects to fully acquire Mother Sparsh in the next two to three years.
