GMM Pfaudler to be ultimate holding company of Pfaudler Group
GMM Pfaudler announced today that it has completed the acquisition of a majority stake in the global business of Pfaudler Group.
The revenue of the combined entity is estimated to be around Rs 2,000 crore. The transformational acquisition makes GMM Pfaudler, a global leader in corrosion resistance technologies, systems & services with 12 manufacturing facilities across 8 countries and 4 continents, employing around 1,500 people. The shareholders of GMM Pfaudler are expected to have earnings accretive immediately post this acquisition.
The stake is acquired from private equity firm Deutsche Beteiligungs AG Fund VI (DBAG), after receiving all necessary regulatory approvals. In consonance with this acquisition, GMM has emerged to be the ultimate holding company of Pfaudler Group, with the entire business of Pfaudler being consolidated into GM. This acquisition will give a boost to GMM’s journey in becoming a world leader in corrosion-resistance technologies, systems & services.
GMM Pfaudler Limited is engaged in the manufacturing of glass-lined equipment, storage vessels as well as alloy steel equipment along with other special-purpose machinery.
The share price of GMM Pfaudler jumped 2.59 per cent and closed at Rs 3,832.70 on Wednesday.