Jasubhai Engineering has appointed a merchant banker to acquire a high-tech engineering company in Germany. The 49-year-old Jasubhai Group is flush with funds from the divestment of its majority stake in the joint venture with US-based Emerson, a diversified global manufacturing and technology company.
The decision to venture into manufacturing specialised engineering products was taken after Maulik Jasubhai decided to take over the mantle from his father two years ago. “We would like the engineering unit to be known as 49-year-old, two-year start up.
The joint venture has enabled us to gain good knowledge on combustion engineering, process automation, water technology and material handling,” said Jasubhai in an interaction with the
The company is exploring opportunities to acquire a German technology-focused engineering company with a revenue of €25-80 million (₹197-630 crore) in order to make a dent into the fast-growing Indian manufacturing sector.
It is looking for opportunities in discreet industrial automation, material handling in sugar and fertilizer sectors besides turnkey projects for growth. Jasubhai Engineering has a manufacturing facility in Ahmedabad and employs 300 engineers.
It manufacturers a wide range of products including industrial oil and gas-fired burners, valves and high pressure process equipments besides automated weighing, bagging and conveying systems.
The company sells high-end precision components to Hindustan Aeronautics and Tata Aerospace.
The company’s revenue grew to ₹105 crore last fiscal from ₹20 crore logged two years back. The Group had a turnover of ₹800 crore before it sold its stake in the joint venture with Emerson.