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GMM to buy 54% in parent for $27.4 million

Juliet Woodard by Juliet Woodard
August 22, 2020
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GMM Pfaudler Ltd. (GMM), has announced the signing of definitive agreements to acquire a 54% stake in the global business of its parent, the Pfaudler Group of the U.S., from private equity firm Deutsche Beteiligungs AG Fund VI (DBAG) for $27.4 million Besides, the Patel family, who are the promoters of GMM, will acquire 26% stake for an undisclosed amount. DBAG will retain 20% stake. GMM will fund fund the acquisition through a mix of internal accruals and debt, it said in a filing with exchanges.“After the acquisition GMM will become the ultimate holding company with the entire business of Pfaudler being consolidated into it. The company will have a consolidated revenue of ₹2,000 crore. and EBITDA of approximately ₹ 250 crore,” the filing said.GMM will become 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, it addedTarak Patel, MD, GMM said, “It is now time to take our company to the next level through this transformational acquisition.” The transaction is expected to close in November 2020.

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Tags: GMM
Juliet Woodard

Juliet Woodard

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