Glen Raven, a company based in the US, will sell its majority stake in Strata Geosystems to Infra.Market for an enterprise value of Rs 910 crore. Additionally, as part of the transaction, Strata India will buy the entire 100% stake in Glen Raven’s US geosynthetics business.
The current operating shareholders of the business, Chief Executive Officer Narendra Dalmia and Chief Development Officer Gautam Dalmia, will continue to be involved and oversee Strata’s international operations following this acquisition.
Strata Geosystems is an expert in strengthening landfills, boosting soil and earth’s capacity to support weight, and reducing soil erosion. Infra.Market stated in a press release that adding these geosynthetic products to its portfolio would improve its ability to offer comprehensive construction solutions to its clients.
The strategic acquisition would also be in line with Infra.Market’s long-term goal of overhauling the Indian construction sector. Infra.Market aims to provide an integrated platform that meets the various requirements of construction projects across the nation by combining their expertise in geotechnical engineering, technology, and procurement.
Infra.Market, a company founded in 2016 by Souvik Sengupta and Aaditya Sharda, specializes in high-volume construction products sold under its own brands and seeks to address problems like a lack of price transparency, questionable quality, a dispersed vendor base, and ineffective logistics. It currently operates in 20 Indian states, and it recently opened global offices in Singapore and Dubai.
The unicorn company backed by Tiger Global has expanded its focus beyond B2B to include retail and B2C opportunities, as well as creating its own private label brands.
It had previously purchased Halonix, Equiphunt, and RDC Concrete.
