Jasch Industries Acquires US Based Indev Gauging Systems
by Charmi Gutka
Jasch Industries Limited has acquired US based Indev Gauging Systems Inc through its wholly owned subsidiary Jasch North America Co.
Formed in 1969, Indev is a web gauge measurement which measure important process variables such as thickness, weight and moisture content. It serves various industries including plastics, coatings, building products, non woven and textiles industries among others.
In early 1980s, Indev was acquired by Barbara-Coleman and later in 1991, The Numina Group acquired the company.
SAIF Partners, one of the early backers of BSE listed local search directory, Just Dial has sold close to 2.4% stake in the company for a total of INR254 Cr. The part exit fetches the fund, a 30x returns on its seven year old investment.