Global manufacturing network, Zetwerk has acquired three companies to strengthen its industrial vertical business in the segment of oil and gas, aerospace, defence, and infrastructure components. The transaction is aggregated to ₹100 crore.
For the aerospace and defence manufacturing capabilities, Zetwerk acquired Pinaka Aerospace Solutions, while for the oil and gas industry – it purchased a majority stake in SharpTanks.
Also, Zetwerk acquired a 100% stake in The Wardha fabrication unit of listed company Wheels India, to tap into a $1.5 billion market comprising the manufacturing of critical fabricated parts for power, roads, and railways.
Zetwerk Manufacturing Businesses co-founder and CEO Amrit Acharya said,” Zetwerk and Pinaka have a history of working together, and we are confident that our combined capabilities will help shape the aerospace and defence industry as we bring back demand for Indian manufacturing from global OEMs,” as reported by PTI.
Acharya added, “As we scale and expand further, we will look to add more homegrown manufacturing companies into our portfolio to grow our business.”
Zetwerk provides communication solutions to Indian defence units, government research facilities such as Defence Research and Development Organisation (DRDO) and the Indian Space Research Organisation (ISRO). Also, enterprise clients including Carlisle, Tata, AVTEC, BEL, and HAL, among others.
SharpTanks is widely recognized as one of the leading Procurement, Fabrication & Construction companies in India, having extensive Design Capabilities as well. It serves clients in the Oil & Gas, petrochemicals, fertilisers, and chemicals industries.
Acharya said, with this takeover, Zetwerk will become one of the seven companies in the country operating in this space.
Zetwerk is a global manufacturing network that maximizes efficiency, quality, and value. Its manufacturing capabilities help customers reduce costs of existing and new production parts, optimize the number of suppliers and execute high-quality production faster.
Its operations include partnerships with more than 10,000 suppliers and facilities, spread across regions and capabilities. Zetwerk’s proprietary technology helps suppliers maximize their capacity utilization by 40%, while planning and project management boost efficiency up to 80%. Also, the company offers financial support to suppliers through working capital loans and invoice discounting services to help them develop and grow their business.