Mumbai-based S M Lodha-led diversified firm Indsur Group has acquired British thermal engineering company CDA Contracts Ltd for an undisclosed amount, making its second acquisition in the European continent.
The acquisition of CDA Contracts—which has been specialising in sectors such as industrial processes, energy and chemical—was made through Indsur Group’s UK-based subsidiary Indsur Nevron Eurotherm Limited and would help the Indian firm strengthen its presence in the UK.
In October 2012, Indsur Group had bought UK-based Nevron Eurotherm Insulation Ltd, which provides insulation and metal cladding solutions, in an all-cash deal and renamed it as Indsur Nevron Eurotherm Limited.
“This is a part of a long-term strategy to substantially invest effort and resources on modernisation and continual improvement. Indsur Group is a Rs 475-crore diversified business headquartered in Mumbai,” Ankur Lodha, director of Indsur Group and Indsur Nevron, said.
Indsur Group has diversified businesses, including auto components, castings, steel pipes and thermal engineering and has a significant presence in the European market, especially in Germany, Austria and Italy.
The group is a major provider of insulator castings for the power sector in India and China, automobile castings and transmission gears in India, and steel pipes for the oil and gas industries in the US and the Gulf.
Indsur Group has manufacturing facilities located in India and several other countries with an employee strength of over 1500.
In August 2011, the gearing division of Indsur Group had acquired automotive gear manufacturing division of Karan Thapar group-led Premium Transmission for an undisclosed amount.
In the space, Japanese car maker Nissan is reportedly holding discussions with Hinduja Automotive to acquire a stake in its engineering and design arm Defiance Technologies.
(Edited by Joby Puthuparampil Johnson)
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