HLE Glascoat Limited (HLE), a manufacturer of process equipment for the chemical and pharmaceutical industries, announced that it has successfully completed the transaction to acquire the global business of Thaletec GmbH (Thaletec), along with its wholly owned subsidiary Thaletec Inc., USA, after receiving all necessary regulatory approvals.
Pursuant to the acquisition, Thaletec is now a wholly owned subsidiary of HLE. Thaletec had revenues of Euro 26 Million in 2020.
HLE Glascoat is now a global player in manufacturing of process equipment, with 4 manufacturing facilities across India and Germany, the statement said.
Commenting on this development, Himanshu Patel, Chairperson and Managing Director – HLE Glascoat Limited said, “We are pleased to announce the completion of the transaction to acquire the global business of Thaletec GmbH. I would like to thank all who were involved in successfully completing this transaction. We are now focused on the smooth transition of operations and shall strive to continue to provide customers of both, HLE Glascoat and Thaletec, with a larger and more innovative range of products, whilst continuing to focus on employee welfare and development. The integration will enhance efficiencies resulting in operational synergies, streamlining and optimization of businesses which will create value for all our stakeholders.”
Innergize Solutions acted as the Strategic Advisor to HLE Glascoat on the transaction.
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