The Kolkata-based Ruia group is acquiring the operating assets of Germany's Gumasol-Werke Dr. Mayer GmbH & Co. KG, a specialist in elastomer technology and products. The deal includes acquisition of a manufacturing cum development facility near Frankfurt with around a 100 employees. Gumasol had revenues of Euro 35 miilion (Rs 213 crore) in 2008 and currently has a run rate of around Euro 25 million (Rs 152 crore).

Ruia group has done several acquisitions in Europe like British auto component company Schlegel Automotive Europe Ltd and Germany's leading automotive sealing systems company, Henniges Automotive Grefarth GmbH.

Mumbai-based Equirus Capital, along with its network partner, acted as the exclusive strategic and financial advisor to Gumasol.

“Gumasol, with its established expertise in rubber tyres and other rubber products, fits in with Ruia Group’s strategy of strengthening its base in Europe," said Pritish Kandoi, Vice President at Equirus Capital. Kandoi added that Gumasol also has patents and technology

that the Ruia group may bring to India.

The Ruia Group has floated a special purpose vehicle called Gumasol Rubber Tec in Germany for this acquisition. The deal size was not disclosed. Ruia has several companies in the tyre and rubber space like Dunlop India Ltd, Falcon Tyres Ltd, Monotona Tyres Ltd and India Tyre & Rubber Co. (India) Ltd. The Ruia group is also planning to bid for the South Korean SsangYong Motor, which has also attracted other suitors including Mahindra & Mahindra. 

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