BDK Valve Private Ltd., a manufacturer of industrial valves, and Gurukrupa Group, a realty developer in western India, on Wednesday announced the successful acquisition of 100% stake in Theis Precision Steel India Pvt. Ltd (Theis Precision). This is the promoter group’s second acquisition of an international firm.
“The acquisition of ‘one-stop one-window’ Theis Precision Steel is a unique value-enhancing deal. We look forward to combining BDK Valve’s capabilities with the talent and expertise brought by Theis Precision’s team as we expand our market presence,” said Shyam Mehta, director, Theis Precision Steel India.
Theis Precision, formerly owned by Tata Steel Ltd., specializes in specialty cold rolling of high/medium carbon steels in India. The company is also the only manufacturer of precision hot-rolled solid steel profile sections. They cater to the need of various market segments such as automotive, textile machinery, cutting blades/saws, office machinery, general engineering, etc.
They also cater to customized requirements such as desired surface finish, roughness, tempering, dimensional tolerances and packaging. Theis Precision recently added Hardened & Tempered strips to their product portfolio.
“With the backing of BDK Valves and Gurukrupa Group, Theis Precision Steel can now become an undisputed leader in its market segment and accelerate growth & expansion. The diversification in manufacturing and synergies in terms of manufacturing facilities, processes, and products will give us an edge and add to the products and services offered by us to customers,” said Chetan Kothari, director, Theis Precision Steel India.
The company has a manufacturing capacity of 40,000 tonne per annum and plans to immediately increase manufacturing capacity to 150000 tonne to enhance its market share in domestic and global markets.
“This sale of Theis Precision Steel to BDK and Gurukrupa brings it back to Indian family ownership after Theis Gmbh in Germany (which was owned by Mahler Asia) acquired it from Tata Steel in 2008,” said Arjen Rijpkema, CEO of Mahler Asia BV in the Netherlands.
