Manufacturing unicorn Infra.Market will acquire around 92 per cent stake in geosynthetics company Strata Geosystems India from US-based Glen Raven Technical Fabrics LLC at an enterprise value of Rs 910 crore, a senior company official said on Monday.
Infra.Market co-founder Souvik Sengupta said the deal involved the acquisition of Glen Raven’s geosynthetics business through Strata Geosystems.
“We will acquire a 92 per cent stake in Strata Geosynthetics from Glen Raven and through Strata, we will acquire the entire geosynthetics business of Glen Raven,” Sengupta said.
Through this acquisition, Infra.Market eyes category leadership in geosynthetic manufacturing and geotechnical engineering.
The acquisition will be done by Infra.Market’s parent Hella Infra Market Private Limited.
“We expect to close both deals by July,” Sengupta said.
Strata is an early entrant in the technical textile sector in India and has scaled to become a global leader in geosynthetic manufacturing, specialising in soil reinforcement technology.
It addresses the evolving needs of construction by providing sustainable materials while saving costs across various sectors like highways, landfills, mines, railways, ports and container yards, among others.
Strata is an early entrant in the technical textile sector in India and has scaled to become a global leader in geosynthetic manufacturing, specialising in soil reinforcement technology.
It addresses the evolving needs of construction by providing sustainable materials while saving costs across various sectors like highways, landfills, mines, railways, ports and container yards, among others.
As a category leader in India and North America, Strata is uniquely positioned to capture the enormous opportunity for the adoption of geosynthetics in road and allied construction in India and other global markets. Through the adoption of geosynthetics, Strata is leading the change and driving the need for more sustainable infrastructure development to drive growth.
“The acquisition of Strata further enhances our capabilities in offering solutions across geosynthetics and related engineering and emboldens our vision to revolutionise the construction ecosystem across all product lines and services,” Infra.Market, co-founder Aaditya Sharda said.
The current operating shareholders of the company Narendra Dalmia (Chief Executive Officer) and Gautam Dalmia (Chief Development Officer) will continue to remain invested and lead the global operations at Strata.
Source: Business-Standard