GMM Pfaudler completes acquisition of majority stake in the global business of Pfaudler Group
Hyderabad: GMM Pfaudler Limited (“GMM”) is pleased to announce that it has successfully completed the transaction to acquire a majority stake of its parent, the Pfaudler Group (“Pfaudler”) from the private equity firm Deutsche Beteiligungs AG Fund VI (“DBAG”), after receiving all necessary regulatory approvals.
Pursuant to the acquisition, GMM has become the ultimate holding company of the Pfaudler group, with the entire business of Pfaudler being consolidated into GMM. The combined revenue of the entity is estimated to be around Rs 20 bn (USD 267 million).
GMM is now the world leader in corrosion-resistance technologies, systems and services with 12 manufacturing facilities across 8 countries and 4 continents and employing around 1,500 people.
Commenting on the successful completion of the transaction:
Tarak Patel, Managing Director, GMM said, “We are delighted to announce the completion of the transaction to acquire a majority stake in the global business of the Pfaudler Group. I would like to express our thanks to all the individuals who worked to complete this complex transaction across multiple jurisdictions.
We are committed to create value for our customers, suppliers, employees and all our stakeholders by ensuring a smooth and seamless integration and by delivering on synergies resulting from our operations, sales and support services. With the acquisition now complete, it will allow us to continue on our exciting journey of making GMM Pfaudler the global leader in corrosion-resistant technologies, systems and services.”