M&A

M&A

Thermax acquires 51% in water treatment player TSA Process Equipments for Rs.71-Cr

BSE Announcement  

Publicly listed Thermax Ltd is to acquire 51% of the equity share capital of Mumbai-headquartered TSA Process Equipments Pvt Ltd for INR 71.14 crore. Thermax will acquire the remaining 49% over two years.Incorporated in 2004, TSA is engaged in the business of developing, designing, supply, installation and commissioning of complete turn-key solutions for varied water treatment and distribution needs for high purity plants, reverse osmosis plants, demineralisation plant, sterile water or ultrafiltration plant of any capacity. It has over 500 installations across the globe, including manufacturing facilities in western India that cater to major companies in pharma and personal care.TSA posted a turnover of INR 120.35 crore and PAT of INR 11.18 crore in FY 2022-23.