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NORMA Group to acquire water management company in India
NORMA Group signed an agreement to acquire equity of Kimplas Piping Systems Limited on 6th April, 2018. Kimplas is a leading manufacturer in India of world class electrofusion (EF), and compression fittings valves, and proprietary equipment for Micro-irrigation Industry. It was promoted by Mr. Krishen Khanna in 1996, and its revenues for FY 18 is INR 175 crores.
Commenting on the merits of the transaction Mr. Krishen Khanna said “NORMA Group is an ideal partner for Kimplas and we look forward to becoming part of it. This is a winning combination with high quality products and global reach in water and gas distribution business”.
Mr. Krishen Khanna will have continued involvement with Kimplas and provide guidance to the company post transaction.
NORMA Group started operations in India in 2008 with a plant in Pune focusing on fluid handling and joining technology mainly for the automotive industry in India. NORMA Group has been expanding into the water management business since 2012 by making select acquisitions in Malaysia, Australia and the
US. “It is of existential importance to provide people with resources such as water and gas,” said Bernd Kleinhens, Chairman of the Management Board of NORMA Group. “We are expanding our expertise in water management solutions in the fast growing Indian market by adding Kimplas’ leading products to
Kimplas' expertise will help us to drive for instance the usage of efficient irrigation solutions in markets that are particularly threatened by water shortage.”
Kimplas has customers in India and abroad, which include water supply boards, gas distribution companies, micro-irrigation companies, building and construction businesses. In addition to products manufactured by it, the company distributes plastic pipes and imported fittings as well as electrofusion welding machines and tools. Kimplas markets its products mainly to India. The company has 690 employees that support Kimplas’ growth plans.
Trans-Continental Capital Advisors (TCCA) acted as financial advisors and Khaitan and Company acted as legal advisors to Kimplas for the transaction.
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