Wavin BV, a global leader in solutions for the building and infrastructure industry and a company of Orbia, today announced the acquisition of a majority stake in Vectus Industries Limited (“Vectus”), a private manufacturer of plumbing and drainage pipes and the market leader in water storage tanks in India. With this joint venture, Orbia’s construction and infrastructure business will be at the forefront of India’s growing water management industry, serving customers in residential, commercial, industrial, infrastructure and agriculture.
Subject to the satisfaction of certain closing conditions, the transaction is expected to close in the first quarter of 2022 and represents a significant strategic investment. Wavin is expanding its products and regional footprint as Vectus will continue to supply plastic pipes and tanks to support the overhead and underground building segments, complementing Wavin’s full range of solutions for the management of drinking water, sewage and storm water. Applications range from sustainable urban and semi-urban building environments to efficient residential plumbing systems.
The complementary strengths of this partnership will enable it to play a key role in the real estate development of Indian cities of level II and III and the pursuit of public investments in affordable housing.
The Vectus management team and employees will continue the activity, underlining the joint commitment of Wavin and Vectus to grow the business and value for stakeholders. The new organization will have more than 1,500 full-time employees and approximately 1,100 contract workers.
View full picture
Said Ashish Baheti, Managing Director of Vectus, “The Indian pipe, fittings and water tank market has grown rapidly over the past decade. By combining our strong distribution network and our deep understanding of the Indian market with Wavin’s technological expertise and global footprint, we will be positioned to capitalize on India’s enormous growth potential and deliver to our customers. ”
“Wavin’s global strength and status as a leader in innovative solutions will provide us with a unique platform to grow faster and go further in the coming years,” said Atul Ladha, CEO of Vectus. “Our combined strengths will enable us to meet India’s critical infrastructure, building and environmental needs. “
Maarten Roef, President of Wavin, said, “Today’s announcement is a major milestone on our journey to global expansion. We are excited to partner with Vectus, given the company’s strong manufacturing footprint and hands-on expertise. With our recent acquisitions of manufacturing facilities in Hyderabad and Neemrana, we intend to continue to create healthy and sustainable environments that support India’s growing population. “
According to Sameer Bharadwaj, CEO of Orbia, “With increasing domestic spending on construction and infrastructure, India is positioned for a strong recovery and increased demand for solutions that enable the continued development and resilience of the Rural and urban India. This acquisition provides us with local presence and know-how, increased capacity and a strong reseller and customer base for our end-to-end water management offerings that advance lives around the world. We welcome Vectus to the Orbia family of companies and look forward to their contribution to our success. ”
Wavin-Vectus will own and operate 19 manufacturing sites, 9 depots and 7 regional offices across India, supported by a network of over 4,300 resellers and distributors and over 37,000 retail outlets.
About Wavin
Wavin BV, Orbia’s Building and Infrastructure division, is a provider of innovative solutions for the global building and infrastructure industry. With more than 60 years of experience in product development, the company tackles some of the world’s most difficult challenges for safe and efficient water supply, sanitation and hygiene, climate resilient cities and better building performance. Wavin is focused on creating positive change in the world by creating healthy and sustainable environments and working with city leaders, engineers, contractors and installers to help make cities and buildings future proof. comfortable and energy efficient. Wavin has more than 11,500 employees in more than 40 countries around the world. For more information, please visit https://wavin.com
About Orbia
Orbia is a community of companies linked by a common goal: to advance life in the world. Orbia’s activities have the collective objective of ensuring food and water security, reinventing the future of cities and homes, connecting communities to data infrastructure and expanding access to health and to well-being with basic and advanced materials and solutions. Orbia operates in the sectors of precision agriculture, construction and infrastructure, data communications, fluorinated solutions and polymer solutions. The company has business activities in more than 110 countries and operations in more than 50, with global headquarters in Mexico City, Boston, Amsterdam and Tel Aviv. For more information, please visit http://www.orbia.com
About Vectus
Vectus Industries Limited, founded by Atul Ladha and Ashish Baheti, is a leading manufacturer of plumbing pipes and water storage products for the residential, commercial, industrial, infrastructural and agricultural sectors in India. It is one of the largest polymer-based water storage solutions companies and a pan-Indian player, with more than three decades of experience and a consumer-validated “supermarket”. Vectus is recognized for its advanced plastic processing techniques including extrusion molding, injection molding, blow molding and rotational molding. For more information, please visit www.vectus.in.
Avendus Capital was Vectus’ exclusive financial advisor on this transaction.
Disclaimer: This content is distributed by Digpu News Network. No HT journalist is involved in the creation of this content.
Never miss a story! Stay connected and informed with Mint. Download our app now !!