Infra.Market announced that it has, through its parent entity Hella Infra Market Private Limited, entered into definitive documents to acquire majority ownership in Strata Geosystems (India) Pvt Ltd (“Strata”) for an enterprise value of INR 9,100 million from US based Glen Raven Technical Fabrics LLC (“Glen Raven”), a global leader in technical and performance textiles and a group of other Indian shareholders. Additionally, the transaction also involves Strata India purchasing the entire 100% stake in the geosynthetics business of Glen Raven in the US.
Strata is an early entrant in the technical textile sector in India and has scaled to become a global leader in geosynthetic manufacturing, specialising in soil reinforcement technology. It addresses the evolving needs of construction by providing sustainable materials, while saving costs across various sectors such as highways, landfills, mines, railways, ports, container yards and more.
Avendus Capital was the exclusive financial advisor to Strata and its shareholders on the transaction.