Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

HLE Glascoat to acquire the global business of Thaletec GmbH

Posted On: 2021-09-17 21:51:27 (Time Zone: IST)


HLE Glascoat, the leading manufacturer of process equipment, today announced the signing of definitive agreements to acquire the global business of Thaletec GmbH, Germany as well as its subsidiary Thaletec USA, as a part of its strategy to strengthen its position further in the global markets with innovative technology. As a part of the deal, both companies have mutually agreed that Thaletec will continue to have its distinct brand identity and remain a separate business entity post the acquisition.

The current promoters have agreed to divest their entire stake in Thaletec in an all cash transaction to HLE Glascoat. The acquisition will see the transfer of business, key technology and rich global experience garnered by Thaletec over the last two decades.

Pursuant to the acquisition, Thaletec will become a wholly owned subsidiary of HLE Glascoat with the entire business of Thaletec being consolidated into the Company.

Since both HLE Glascoat and Thaletec are engaged in similar and synergistic lines of business and operations, incremental improvements in the operations of the two companies are expected. The acquisition will enhance efficiencies and combine the similar business interests for both the entities, resulting in operational synergies, streamlining and optimization of the businesses.

The acquisition is in line with the Company strategy to expand its footprint globally and reinforces its position as a market leader in manufacturing innovative and specialized process equipment, customized solutions and systems.

Speaking about the acquisition, Mr. Himanshu Patel, Chairman and MD, HLE Glascoat said, "We are thrilled to announce this very significant development which meets all the criteria set out by our Group in terms of profitability and growth potential. While this transaction creates excellent value for our shareholders and allows us to accelerate our expansion plans, Thaletec also shares our existing vision, values, and strategic thinking. It is a historic moment for us looking at the immense possibilities that lie ahead for both brands to serve our customers with innovative and world class products as per their fast-evolving tastes and requirements."

Dr. Reinemuth, MD of Thaletec, stated "Thaletec has established itself in the European, Asian and North American markets as a reputed and experienced customized glass lined equipment manufacturer and has built a solid foundation for the next phase of its growth. The unification of Thaletec and HLE Glascoat is very exciting news for our customers and employees. We, at Thaletec, strongly believe that the two organizations will benefit from complementary business philosophies, culture, resources and technology. We look forward to supporting HLE in their endeavor to take Thaletec to the next level and wish them success."

"Our organization's strength and success come from its dedicated employees, strong customer relations and its mission to ensure high quality service to its customers." said Mr. Bergmann, MD of Thaletec. "We believe that this transaction presents an excellent succession plan, allowing leadership to transition from myself to HLE Glascoat, known for their deep industry knowledge and a passion for engineering excellence."

Subject to the satisfaction of certain closing conditions and regulatory approvals, the acquisition is expected to close by the end of 2021. Under the agreed terms, the consideration of 12 million is fixed for the equity acquisition.

Innergize Solutions acted as the Strategic Advisor to HLE Glascoat on the transaction. Squire Patton Boggs and Khaitan & Co acted as the Legal Advisors to HLE Glascoat on the transaction.

Shares of HLE GLASCOAT LIMITED was last trading in BSE at Rs. 5180.3 as compared to the previous close of Rs. 5080.5. The total number of shares traded during the day was 4931 in over 1630 trades.

The stock hit an intraday high of Rs. 5199 and intraday low of 4934.25. The net turnover during the day was Rs. 25124054.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Bharat Forge Ltd announces Voluntary Retirement Scheme for employees at Pune plant

Pritish Nandy Communications announces filming of New Show

Divyashakti Granites Ltd Q2FY22 PAT slides to Rs. 77 lakhs

Dilip Buildcon Ltd receives provisional completion certificate for HAM project

NRB Bearings Limited updates on sale of stake in subsidiaries

Dhrol Bhadra Highways Pvt Ltd receives appointed date from NHAI

Coforge Limited - Q2 FY22 Highlights

Marquee global long-term investors subscribe to Deepak Fertilisers' QIP

Cyient recognized as a Major Contender in the inaugural Everest Group PEAK Matrix for 5G Engineering Services

NILE Ltd receives APPCB order for operating expanded capacity at Tirupathi Lead recycling plant

Ramkrishna Forgings Ltd wins order in Driveline segment from leading Scandinavian Automotive OEM

Hindustan Media Ventures Limited to participate in tender for new IPL team

Tata Power achieves milestone of more than 1000 EV charging stations across the country

TVS Motor Company to partner with Bahwan International Group to strengthen its presence in Iraq

Acrysil Ltd commences commercial production of expanded capacity

Coforge Limited Board declares Second Interim Dividend of Rs. 13

Coforge Ltd posts consolidated PAT of Rs. 146.7 crore in Q2FY22

Lupin makes a hearty entry into Guinness World Records

IRCON hands over Jaynagar - Kurtha cross border rail section between India and Nepal

Apollo Tyres Ltd brings in premium tyre brand Vredestein to India

Asian Hotels North Limited appoints Mr. Ashish Dhanuka as additional director

Athena Global Technologies Ltd posts consolidated Q2FY22 loss of Rs. 1.18 crore

Automotive Stampings and Assemblies Ltd Q2FY22 net profit at Rs. 40.21 lakhs

Sahyadri Industries Ltd posts Rs. 11.84 crores PAT in Q2FY22

MCX reports consolidated PAT of Rs. 32.66 crore in Q2 FY2021-22

Rudra Global Infra Products Ltd consolidated Q2FY22 PAT higher at Rs. 2.10 crore

Gujarat Containers Ltd posts Rs. 1.59 crore PAT in Q2FY22

HGS drives employment across Northern Ireland

Minda Industries Ltd approves additional investment in SPV

Godawari Power And Ispat Ltd increses stake in Hira Ferro Alloys Ltd to 52.79%

Suraj Industries Ltd Q2FY22 PAT at Rs. 81.88 lakhs

ICICI Bank Q2FY22 consolidated PAT climbs to Rs. 6091.84 crore

Tatva Chintan Pharma Chem Ltd Q2FY22 consolidated PAT surges to Rs. 32.41 crore

Sportking India Ltd updates on expansion project

Jasch Industries Ltd Q2FY22 PAT rises to Rs. 4.07 crore

Kkalpana Industries India Ltd Q2FY22 consolidated PAT higher at Rs. 13.45 crore

Gothi Plascon India Ltd Q2FY22 PAT at Rs. 58.52 lakhs

Sportking India Ltd reports surge in Q2FY22 PAT to Rs. 110.16 crore

Seshasayee Paper and Boards Ltd posts Rs. 27.49 crore consolidated PAT in Q2FY22

Vimta Labs Ltd reports consolidated Q2FY22 PAT of Rs. 9.74 crore

Orient Electric Ltd posts Rs. 34.77 crores PAT in Q2FY22

Chalet Hotels Ltd enters into settlement with HAL for Koramangala project

S E Power Ltd posts consolidated loss of Rs. 40.03 lakhs in Q2FY22

IRB InvIT Fund to distribute Rs. 2.20 per unit for Q2FY22

PSP Projects Ltd receives award at the 19th Construction World Annual Awards, 2021

Gayatri Tissue and Papers Ltd Q2FY22 PAT at Rs. 0.32 lakhs

ZF Steering Gear India Ltd posts net profit of Rs. 5.70 crore in Q2FY22

Dodla Dairy reports Q2FY22 earnings

Krebs Biochemicals & Industries Ltd board approves issue of preference shares

Greaves Electric Mobility acquired 100% stake in E-Rickshaw Company Bestway


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020