ChrysCapital acquires 9.9% stake in GMM Pfaudler following DBAG Fund VI’s divestment
In a notable transaction, Pfaudler Inc., primarily held by DBAG Fund VI – an entity advised by Deutsche Beteiligungs AG (‘DBAG’) – has offloaded a 13.6% equity interest in GMM Pfaudler Ltd. Among the buyers, prominent India-centric investment firm ChrysCapital, managing an impressive $5 billion in assets, secured a 9.9% equity stake. The remaining 3.7% stake found its way to various other investors.
Further to this deal, DBAG’s representative directors, Malte Woweries and Harsh Gupta, formally submitted their resignations on August 18, 2023. However, emphasizing their sustained interest, the Patel family – GMM Pfaudler’s largest shareholders – affirmed their intent to acquire an additional 1% equity from DBAG Fund VI. This acquisition, priced at ₹1,700 per share, was initially agreed upon in December 2022 and remains pending regulatory clearances.
GMM Pfaudler’s Managing Director, Tarak Patel, conveyed his appreciation for DBAG’s consistent guidance over the years, stating, “The investment by a renowned player like ChrysCapital reflects a strong affirmation of GMM Pfaudler’s established legacy and our dedication towards fostering a global institution.” Tom Alzin, Spokesman of DBAG’s board of management, reciprocated the sentiment, celebrating their eight-year partnership with GMM Pfaudler and wishing them continued success.
GMM Pfaudler Ltd stands out as a global leader in providing corrosion-resistant technologies and services. With its relentless drive for innovative yet cost-efficient solutions, the company remains the top pick for clientele in the chemical and pharmaceutical sectors. Boasting 18 manufacturing hubs, a comprehensive sales and service footprint, and a workforce exceeding 1800 individuals across four continents, GMM Pfaudler’s global presence is undeniable.