GMM Pfaudler on Wednesday announced that it has completed the transaction to acquire a majority stake of its parent, the Pfaudler Group, from the private equity firm Deutsche Beteiligungs AG Fund VI.
With this acquisition, GMM became 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 2000 crore (USD 267 million).
This acquisition is expected to be earnings accretive immediately to the shareholders of GMM Pfaudler.
Commenting on the successful completion of the transaction, Tarak Patel, MD of GMM said, 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.
Shares of GMM Pfaudler were trading 0.63% higher at Rs 3,763.10 on BSE. The announcement was made before market hours today, 17 February 2021.
GMM is a leading supplier of process equipment to the pharmaceutical and chemical industries. It is a market leader and has more than five decades' experience in manufacturing Glass Lined Equipment.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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