HLE Glascoat wraps up €12m acquisition of Thaletec
HLE Glascoat has wrapped up its previously announced €12 million acquisition of Thaletec, a Germany-based manufacturer of specialized glass lined process equipment/reactors, after securing all the necessary approvals.
As part of the deal announced in September 2021, the Indian process equipment manufacturer also acquired Thaletec’s subsidiary — Thaletec USA.
Thaletec had registered revenues of €26 million in 2020.
Himanshu Patel — Chairperson and Managing Director of HLE Glascoat said: “We are pleased to announce the completion of the transaction to acquire the global business of Thaletec GmbH. I would like to thank all who were involved in successfully completing this transaction.
“We are now focused on the smooth transition of operations and shall strive to continue to provide customers of both, HLE Glascoat and Thaletec, with a larger and more innovative range of products, whilst continuing to focus on employee welfare and development. The integration will enhance efficiencies resulting in operational synergies, streamlining and optimization of businesses which will create value for all our stakeholders.”