Vascon Engineers To Acquire 90% Stake In GMP Technical Solutions
Vascon Engineers is acquiring 90% stake in GMP Technical Solutions for Rs.62.63 Cr.
This acquistiion will provide an edge to Vascon in offering turnkey solutions to the factory, IT and hotel buildings space, as it is engaged in synergic and complementary operations.
Vascon Engineers Ltd is engaged in engineering, procurement and construction services and has an equity capital of Rs.90.01 Cr.
Transaction Reference: Reuters India
In the beginning of this year, Vascon Engineers raised Rs.178.20 Cr through IPO to fund its EPC contracts and real estate development projects, repayment of debt and general corporate purposes.
Last month, it received projects worth Rs.137 Cr for construction works in Maharashtra. First was the Rs.99.89 Cr worth of contract for construction of residential complex in Pune, while the other was Rs.32.55 Cr for constructing villas for Tata Housing Development Company in Khandala.
Its consolidated net profit rised by 32.50% to Rs.13.94 Cr on 49.80% increase in net sales to Rs.202.85 Cr in Q1 June 2010 over Q1 June 2009.
GMP Technical Solutions Pvt Ltd manufactures modular clean rooms, office partition systems etc. and has expertise in door set manufacturing and bearing ceiling supplies.
GMP Technical Solutions has three divisions - manufacturing division (clean rooms, office partitions, door sets and storage racks), BMS division (building management services, heating, ventilation and air conditioning, electrical design and execution) and QA technical services division (validation and certification of weights and other measures).
It has annual turnover of over Rs.120 Cr.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 09/08/10 | GMP Technical - Vascon Engineers | M&A | Vascon Engineers Limited | 13.60 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 06/02/12 | M&A | Looking For | VRL Cement Limited | - | Planned |
| 03/02/12 | Private Equity | Emerging Markets Management LLC | Sintex Industries Limited | 2.97 | Completed |
| 02/02/12 | M&A | Binani Industries Limited | 3B - The Fibreglass Company | 362.00 | Completed |
| 16/01/12 | M&A | Dalmia Bharat Sugar and Industries Limited (Dalmia Cement Bharat Ltd) | Calcom Cement India Limited | 46.03 | Announced |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Vascon Engineers Limited | Vasudevan & Family Golden Temple Pharma Private Limited Premratan Exports Private Limited |
15/16,Hazari Baug L.B.S. Marg Vikhroli West Mumbai - 400083 Maharashtra | www.vascon.com | |
| GMP Technical Solutions Private Limited | 309-316, 3rd floor, Swastik Disha Buisness Park, Behind Wandhwani Ind. Estate, L.B.S. Marg, Ghatkopar (W), Mumbai-400086, Maharashtra, India. | www.gmptech.net | ||
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| Feb 6, 2012... | VRL Logistics To Sell Power And Cement Biz |
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