GMM Pfaudler, the Indian unit of US-based Pfaudler Inc, today announced that it has completed the transaction to acquire a majority stake in parent Pfaudler Group from German private equity firm Deutsche Beteiligungs AG Fund VI.
Post the acquisition, GMM has become the holding company of the Pfaudler Group. The revenue of the combined entity is estimated to be around $267 million, the statement said.
The deal adds more power to GMM in areas of corrosion-resistance technologies, systems and services. The combined entity will have 12 manufacturing facilities across 8 countries and 4 continents with an employee base of around 1,500 people.
In August last year, GMM said that it would acquire a majority stake in the group’s global business from the German private equity firm.
The company had then said it would acquire a 34.4% stake in the global business while its Swiss unit would purchase 19.6% for a total of $27.432 million (about Rs 206 crore).
Under the deal, GMM managing director Tarak Patel and director Ashok Patel, part of the company’s promoter group, would buy another 26% of the global business. They would likely shell out around $13.2 million.
The balance 20% shareholding in Pfaduler Group would remain with Pfaudler International, which is ultimately owned and controlled by Deutsche Beteiligungs AG.
GMM is a supplier of process equipment to pharmaceutical and chemical industries.
Over the years, GMM has diversified its product portfolio to include mixing systems, filtration & drying equipment, engineered systems and heavy engineering equipment, and works as a one-stop-shop for the chemical process industry.