M&A

M&A

Construction equipment maker Conmat buys back 51% stake of Japan’s KYB in JV

Business Standard  

Conmat Group, promoted by technopreneur Premraj Keshyep, has acquired complete control of Vadodara-headquartered KYB Conmat Pvt Ltd , buying back 51% stake from its joint venture partner KYB Corporation, a Japanese firm in concrete equipment.KYB Conmat Pvt Ltd is one of the top 3 manufacturers of concrete construction equipment like batching plants, paving machines, transit mixers, concrete pumps and self-loading mixers.The transaction was exclusively advised and steered by global M&A advisory firm Singhi Advisors. Share Purchase Agreement and transfer of control have been completed with assistance from DSK Legal.The firm was formed in 2013 when KYB acquired 51% stake in Conmat Systems and was operated as a JV for over a decade to produce transit mixers using KYB technology and other products that were developed by Conmat.The company has a workforce of 450 professionals in addition to over 350 contractual workmen, along with a network of over 200 sales & service engineers, 10 domestic and 4 international dealers. It supplies products across India and to over 25 countries.