B2B Firm Zetwerk Acquires 3 Companies Worth Rs 100 Crore for Industrial Expansion

In a enterprise enlargement amounting to Rs 100 crores, manufacturing firm Zetwerk has introduced the acquisition of three companies to unfold its arms additional within the aerospace, protection, oil, and fuel industries.

The first firm that the manufacturing unicorn has acquired is Pinaka Aerospace Solutions, tapping into a variety of consumer portfolios and experience in myriad communication merchandise comparable to radar methods, and avionics, amongst different applied sciences underneath the A&D sector.

Bengaluru-based Pinaka offers communication options to varied enterprises, each personal and authorities. These embody DRDO, ISRO, Indian protection items, Carlisle, TATA, BEL, HAL, amongst others. The acquisition of Pinaka is finished in a deal that features a mixture of fairness and money.

Zetwerk has beforehand labored with Pinaka and now, with the amalgamation of the 2 corporations, Zetwerk goals at elevating the demand for Indian manufactured merchandise within the world OEM (unique gear producer) market. “As we scale and expand further, we will look to add more homegrown manufacturing companies into our portfolio to grow business,” mentioned Amrit Acharya, CEO and Co-founder of Zetwerk, in an announcement.

The second firm that Zetwerk has acquired is Sharp Tanks which can assist it increase into the Oil and Gas sector. Sharp Tanks has a various checklist of purchasers in Petrochemicals, Fertilizers, and Chemical Industries, along with the Oil and Gas sector. The third acquisition is the Wardha fabrication unit of Wheels India.

The Wardha unit will assist Zetwerk be experience in manufacturing essential fabricated elements for roads, railways, and energy. Currently, Zetwerk has acquired 100% stake within the firm and is presently utilizing this facility to fabricate and provide fabricated girders for the high-speed bullet prepare venture working between Mumbai and Ahmedabad.

Addressing the expansion of the Indian eco-system that’s partly fueling these speedy acquisitions, Acharya mentioned, “The Indian industrial ecosystem, together with the aerospace and protection manufacturing, has developed radically, rising as a robust contender for its world counterparts. However, we consider that is just the start, and we’re excited to accomplice with entities that share our imaginative and prescient to drive India’s self-reliance in manufacturing.”

After the acquisition, together with Pinaka for the A&D sector, Zetwerk will change into one of many seven gamers within the nation which can be working on this quickly rising sector.

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