On Wednesday, the western Indian real estate developer Gurukrupa Group and the producer of industrial valves BDK Valve Private Ltd. announced that they had successfully acquired the whole stock of Theis Precision Steel India Pvt. Ltd. (Theis Precision). The promoter group has now acquired a global company twice.
“The acquisition of ‘one-stop one-window’ Theis Precision Steel is a unique value-enhancing deal. We look forward to combining BDK Valve’s capabilities with the talent and expertise brought by Theis Precision’s team as we expand our market presence,” said Shyam Mehta, director, of Theis Precision Steel India.
Theis Precision, formerly owned by Tata Steel Ltd., specializes in high/medium carbon steel specialty cold rolling in India. Additionally, the business is the exclusive producer of precisely hot-rolled solid steel profile pieces. They supply many market segments with what they require, including the automotive, textile machinery, office machinery, general engineering, and cutting blades/saws markets.
“With the backing of BDK Valves and Gurukrupa Group, Theis Precision Steel can now become an undisputed leader in its market segment and accelerate growth & expansion. The diversification in manufacturing and synergies in terms of manufacturing facilities, processes, and products will give us an edge and add to the products and services offered by us to customers,” said Chetan Kothari, director, Theis Precision Steel India.
Additionally, they can accommodate special requests for desired surface finish, degree of roughness, tempering, dimensional tolerances, and packing. Theis Precision recently expanded its product line to include Hardened & Tempered strips.
To boost its market share in both local and international markets, the firm, which now has a manufacturing capacity of 40,000 tonnes annually, aims to quickly raise that capacity to 150,000.
“This sale of Theis Precision Steel to BDK and Gurukrupa brings it back to Indian family ownership after Theis Gmbh in Germany (which was owned by Mahler Asia) acquired it from Tata Steel in 2008,” said Arjen Rijpkema, CEO of Mahler Asia BV in the Netherlands.
