Infra.Market To Acquire Majority Ownership In Strata Geosystems The company said that the acquisition catapults the startup to category leadership in geosynthetic manufacturing and geotechnical engineering
By Teena Jose
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Infra.Market announced that it has, through its parent entity Hella Infra Market Private Limited, entered into definitive documents to acquire majority ownership in Strata Geosystems (India) Pvt Ltd ("Strata") for an enterprise value of INR 910 crore from US based Glen Raven Technical Fabrics LLC. The company said that the acquisition catapults the startup to category leadership in geosynthetic manufacturing and geotechnical engineering.
"We at Infra.Market are attempting to build India's largest multi-product construction material offering not only in India but globally. The acquisition of Strata further enhances our capabilities in offering solutions across geosynthetics and related engineering and emboldens our vision to revolutionize the construction ecosystem across all product lines and services," said Aaditya Sharda, co-founder, Infra.Market.
Strata is an early entrant in the technical textile sector in India that addresses the evolving needs of construction by providing sustainable materials while saving costs across various sectors such as highways, landfills, mines, railways, ports, container yards and more.
"Geosynthetics are new-age construction products which offer tremendous carbon savings and aid in sustainable construction goals. We have been at the forefront of advancing the adoption of these products in India and have successfully developed them in several infrastructure sectors such as highways, container yards, etc. While what we have built till now is industry defining, the platform Infra.Market provides will further aid and accelerate our vision of taking geosynthetics to every construction project and build a global category leader," said Narendra Dalmia, CEO, Strata.
According to an official statement, the current operating shareholders of the Company, Narendra Dalmia (chief executive officer) and Gautam Dalmia (chief development officer) will continue to remain invested and lead the global operations at Strata. It added that Avendus Capital was the exclusive sell-side transaction advisor to the shareholders of Strata.
