The Euro 1 billion Germany headquartered NORMA Group signed an agreement to acquire equity of Kimplas Piping Systems Limited on 6th April, 2018. Kimplas is a leading manufacturer in India of world class electrofusion (EF), and compression fittings valves, and proprietary equipment for Micro-irrigation Industry. It was promoted by Mr. Krishen Khanna in 1996, and its revenues for FY 18 are INR 175 crores.
Commenting on the merits of the transaction Mr. Krishen Khanna said “NORMA Group is an ideal partner for Kimplas and we look forward to becoming part of it. This is a winning combination with high quality products and global reach in water and gas distribution business”. Mr. Krishen Khanna will have continued involvement with Kimplas and provide guidance to the company post transaction.
NORMA Group started operations in India in 2008 with a plant in Pune focusing on fluid handling and joining technology mainly for the automotive industry in India. NORMA Group has been expanding into the water management business since 2012 by making select acquisitions in Malaysia, Australia and the US. “It is of existential importance to provide people with resources such as water and gas,” said Bernd Kleinhens, Chairman of the Management Board of NORMA Group. “We are expanding our expertise in water management solutions in the fast growing Indian market by adding Kimplas’ leading products to our portfolio. Kimplas’ expertise will help us to drive for instance the usage of efficient irrigation solutions in markets that are particularly threatened by water shortage.”
Kimplas has customers in India and abroad, which include water supply boards, gas distribution companies, micro-irrigation companies, building and construction businesses. In addition to products manufactured by it, the company distributes plastic pipes and imported fittings as well as electrofusion welding machines and tools. Kimplas markets its products mainly to India. The company has 690 employees that support Kimplas’ growth plans.
Trans-Continental Capital Advisors (TCCA) acted as financial advisors and Khaitan and Company acted as legal advisors to Kimplas for the transaction.
About Kimplas Piping Systems Limited
Kimplas is a leading manufacturer in India of world class electrofusion (EF), and compression fittings and valves, and proprietary equipment for the micro-irrigation industry. The company was founded by Mr. Krishen Khanna in 1996 and has been headquartered in Nashik, Maharashtra. The company has focused on strong research and development for continuously introducing new products and technology for making water and gas distribution safer and more efficient. The company’s products are certified by leading agencies in the UK and Germany and find application in diverse use-cases including urban and rural water and gas distribution, irrigation, building and construction.
About NORMA Group
NORMA Group is an international market and technology leader in engineered joining technology (joining, connecting and fluid handling technology). The company offers more than 40,000 products to customers in 100 countries with around 7,700 employees. NORMA Group joining products can be found in vehicles and trains, ships and aircraft, buildings and water management as well as in applications for the pharmaceutical and biotechnology industry. The company generated sales of around EUR 1.02 billion in 2017. NORMA Group operates a global network of 27 production facilities as well as numerous sales and distribution sites across Europe, the Americas, and Asia-Pacific. NORMA Group has its headquarters in Maintal, Germany. NORMA Group SE is listed on the German stock exchange (Prime Standard) and included in the MDAX index.