The acquisition signifies Chembond’s entry into a new product range, addressing the needs of its existing customer base in a high-growth industry that requires innovative solutions for lighter and stronger materials. Mr. Sameer V. Shah, Chairman and Managing Director of Chembond Chemicals Ltd, expressed the intention of both companies to invest in newer technologies to become a leading partner to the Indian automotive industry.
Mr. Nirmal V. Shah, Managing Director of Chembond Chemicals Ltd, mentioned that the decision to acquire Phiroze Sethna and Gramos was part of a strategic initiative to invest in, consolidate, and horizontally grow their businesses.
Law Charter served as the legal advisors to Chembond, while YMS Partners LLP acted as the M&A advisors for the transaction.
About Chembond:
Chembond Chemicals Limited is headquartered in Mumbai and has a presence across India. Listed on the Mumbai Stock Exchange (BSE: CHEMBOND) the company manufactures specialty chemicals and offers solutions for water treatment, automotive, construction, high-performance coatings, animal nutrition, industrial enzymes, and bio-based polymers.
More information can be found on www.chembondindia.com
