2013-10-07 14:13:38 -
October 7, 2013; HYDERABAD: Pennar Industries Ltd today announced acquisition of assetsofWayne-Burt Petro Chemicals Private Limited, earlier known as Bailey Hydropower Pvt Ltd, a hydraulics cylinder manufacturing company in Chennai.
Elaborating on the deal, Mr. Suhas Baxi, President& CEO of Pennar said, “This deal is a step towards creating a more diversified product and solutions portfolio. The Indian market of hydraulic systems caters to domestic as well as global supply chain for construction and mining equipment, aerospace, defense, and agricultural equipment. Bailey Hydro products already have a market in North America and allow Pennar to have a footprint in global market. We intend to invest in Technology, Manufacturing and Market Development to emerge as one of the top three players in
the hydraulic systemsbusiness in India”.
Pennar Industries has acquired production, engineering, product development program and existing customer relations of Wayne Burt. The production facility in Chennaiis able to produce 2,25,000 cylinders per annum; and with aglobally trained technical team, strong design and engineering capabilities and an experience of catering to supply chain in North America and India provides a solid foundation for Pennar’s plans.
Currently, the hydraulic equipment market in India is estimated to be approximately Rs.2900 crores and is expected to grow to Rs.4000 crores over the next five years. Mr. Aditya Rao, Vice Chairman of Pennar Industries added that the opportunity for the company is to create a presence across the value chain of Hydraulic Equipment starting with engineering services, going all the way to system integration.
Mr. T.G.S. Mahesh, Founder and CEO of the Wayne Burt Group said “The hydraulic cylinder sector is an attractive segment for players like Pennar who are present in the value chain and in a position to derive additional value. Our group has recently forayed into the Defense, AeroSpace, Oil & Gas, and Petrochemical industries and made substantial investments in these sectors. Pennar with its diversified engineering manufacturing capabilities is an ideal business partner to augment our growth plans in Defense and Aerospace business’ hydraulic cylinder requirements”.
Merisis Advisors, an M&A focused investment banking advisory firm, were the exclusive advisors to the transaction.
About Pennar Industries Ltd
Pennar Industries Limited is one of the leading engineering organizations in India with diverse product offerings. It is a multi-product, multi-location enterprise, manufacturing a wide range of value-added steel products.Pennar’sproducts find application in diverse segments such as Railways, Automobiles, Building & Construction, Pollution Control, Infrastructure, Road Safety Systems and General Engineering.Our diverse product portfolio includes Solar
Structures, Railway Wagons & Coaches, Building Products, ESP Electrodes, Metal Crash Barriers, Precision Tubes, Auto Components, White Goods and several others.
Pennar Industries Limited has expanded its service offerings through two subsidiaries, PEBSL and Pennar Enviro Limited.
PEBS is engaged in the design, manufacture, supply and installation of pre-engineered steel buildings and building components for industries, warehouses, commercial centres, multi-storeyed buildings, aircraft hangars, sports complexes/stadia, metro rail shelters, agricultural storage buildings, school buildings, health centers, garages, bus shelters, car parks, etc.
Within four years of operation the company today is in top four in India in the PEB segment.PEBS Pennar has also several firsts to its credit. It is the first PEB company in India to build a 99m clear span building and another building which is one kilometer long. It is also the first factory in India to receive a Gold Rating from the Indian Green Building Council.
Pennar Enviro Limited has a manufacturing facility at Mallapur, Hyderabad. The company also has a technical collaboration with TechUniversal of UK for Water Treatment Systems. Pennar Enviro deals with Water and Environment business and provides turnkey solutions viz., Water Treatment Plants (WTPs), Sewage Treatment Plants (STPs), Effluent Treatment Plants (ETPs), Effluent Recycling Plants (ERPs), Zero Liquid Discharge Plants (ZLDPs) etc. using various advanced and environmental friendly technologies in Industrial and Municipal Segments besides Sea/Brackish Water Desalination..
Pennar Group on the whole has the distinction of being partners in growth for several industrial and commercial establishments. We have catered to the requirements of several blue chip companies such as L&T, TATA’s, Ashok Leyland, Volvo, Eicher, WABCO, HCC, Moser Baer, Ultra Tech and many others on a consistently. We take pride in our commitment to excellence which we believe will put us on the pedestal for greater accomplishments.
About the Wayne Burt Group
Wayne- Burt Group– A $2 billion asset based conglomerate comprising of a a group of companies of with diversified interests in Engineering & Aerospace, Oil & Gas, Petrochemicals and Energy businesses with a strong presence in India and USA. The Founder Promoter of the Wayne Burt group - Mr. T.G.S.Mahesh is a first generation technocrat entrepreneur, and an investment banker with experience across various sectors – IT, Telecom, Manufacturing, Banking and with the proven expertise of turning around companies into highly successful profitable ventures. For more information visit us at www.wayneburt.net
About Merisis Advisors
MerisisAdvisors, is an investment banking advisory firm, offering independent advisory services to emerging growth and mid-market corporate clients and family offices, on mergers and acquisitions as well as fund raising activities. For more information please visit us at www.merisis.in