US-based Hollingsworth & Vose Company (H&V), a supplier of advanced materials for filtration, battery separator and industrial applications, has acquired Raman FibreScience Pvt Ltd, a Bangalore-based composite materials maker, for an undisclosed amount, the company said in a release.
As part of the deal, Aroon Raman, founder of RFS, will continue on the board of the company which will be renamed as H&V Advanced Materials (India) Pvt Ltd.
The acquisition will enable H&V to use the technology created by RFS and further commercialise it on the global platform. It will also provide H&V a strong operating base in India to serve its customers globally and in India.
“We are both privately held companies with world-class technical capabilities with a policy of investing for the long term and so have a strong common vision and organisational culture. I have no doubt Raman FibreScience, its employees and customers and employees will prosper under H&V," said Aroon Raman, MD and founder of Raman FibreScience.
Established in 2007, Mysore-headquartered Raman FibreScience specialises in advanced materials for filtration media and battery separator applications.
“Raman FibreScience has a strong team with considerable experience in wet-laid fiber based technology. For H&V, India represents an important market and the RFS location and team provide H&V with an operational base with which to serve our customers and grow our India presence," said Val Hollingsworth, CEO of H&V.
Established in 1843, Hollingsworth & Vose is headquartered in Massachusetts, the US.
Veda Corporate Advisors acted as the exclusive advisor to Raman FibreScience on this deal.
(Edited by Joby Puthuparampil Johnson)