IMC SWARNAA acquires Trillium Flow Technologies in order to diversify its portfolio and expand its market presence
· Completes acquisition of 100% stake of Trillium Flow Technologies (BDK Valves) · With this acquisition, the group’s combined turnover would be approximately INR 1000 Crs. · Trillium Flow Technologies, originally known as BDK Engineering Industries Ltd. was acquired by Wier Engineering services in 2010 for INR 298.3 Crs.
Mumbai: IMC Swarnaa Ventures Pvt Ltd, a joint venture of Hubballi based IMC and SWARNAA Group of companies, announced the successful acquisition of 100% stake in Trillium Flow Technologies India Private Limited (earlier know as Weir India Pvt. Ltd.), a leading player in manufacturing Ball Valves, Butterfly Valves, Diaphragm Valves, safety relief valves and Plug Valves, under the well renowned “BDK Valves” brand, expanding their market offerings.
Well reputed in the domestic market, Trillium Flow technologies serve prestigious clients such as Reliance, Adani, ONGC, HMEL, NTPC, JSW, L&T, General Electric, Doosan, Siemens, Ion Exchange, including international clientele such as ABB Alstom, Hitachi and Honeywell, among others. Through this acquisition, the Company hopes to continue catering to the various industrial segments such as Oil and Gas, Power, Metals and Mining. In 2010, the Indian Company BDK Engineering Industries Ltd. was acquired by Wier Engineering services for INR 298.3 Crs., which was then renamed to Trillium Flow Technologies India Private Limited.
Commenting on the occasion, Mr. Bimal Mehta, Chairman, IMC Swarnaa Ventures Pvt Ltd said, “The acquisition of Trillium is a unique transaction bringing a pioneering leader in valve manufacturing back in the hands of Indians. This acquisition strengthens our presence in the category and our commitment to drive value for our customers. We look forward to combining IMC Swarnaa’s capabilities with the talent and expertise brought by Trillium’s team as we expand our market presence.”
“Through this acquisition, we are confident of taking Trillium Flow Technologies to the next level with the support of our employees, customers and all other stakeholders and restore the company to its earlier reputation. The 56 year metals trade experience of IMC group combined with RDSO standard manufacture expertise of Swarnaa group will add an unparalleled growth to the new acquisition. ” said Dr. Ch. V.S.V. Prasad, Co-Chairman, IMC Swarnaa Ventures Pvt. Ltd.
Trillium Flow technologies’ products have earned approvals from several customers over the years, making them a key supplier of valves for various applications. It boasts of excellent client relations in over 50 countries in the international market and a domestic presence spread across India, with a presence in over 11 cities. BDA Partners were the exclusive financial advisor to the Trillium Group. Bathiya Legal were the sole legal advisors, and Bathiya & Associates LLP Chartered Accountants were Financial Advisors to IMC Swarnaa Group.
IMC Swarnaa Ventures is confident of turning around the company by virtue of their excellent relationships on both the sourcing and customer side. “We believe that with our Customer Centric Approach, we would successfully meet our client’s expectations and multiply our order book and sales in next 6 months” said Mr. Shyam Mehta, Director, IMC Swarnaa.
“We believe that there are several areas of improvement in the supply chain management which we are confident of addressing successfully and enhance the processes in production and delivery for efficient management.” said Mrs. Mounika Kore, Director, IMC Swarnaa.