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RadiciGroup expands in India with new acquisition

Source:RadiciGroup     Date:2022-05-12
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RadiciGroup is continuing to strengthen its internationalization strategy. Through its High

Performance Polymers business area – a multinational manufacturer and supplier of engineering polymers based on polyamide, polyester and other materials – the Group has invested approximately EUR 35 million in the acquisition of the Engineering Plastics business of Ester Industries Ltd., an Indian company founded by the Singhania family in 1985 and currently listed on the Bombay Stock Exchange.

 

Besides engineering polymers, Ester Industries Ltd. has a strong market presence in polyester packaging films, a business the Indian firm intends to continue and strengthen.


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In addition to High Performance Polymers, RadiciGroup has two other business areas: Specialty Chemicals and Advanced Textile Solutions. The Group is led by brothers Angelo, Maurizio and Paolo Radici, the third generation of an entrepreneurial family who, in just over 80 years in business, have transformed a small Italian firm into a global industrial giant capable of offering innovative products with advanced technical characteristics that are manufactured with respect for people and the environment.

 

The acquired production site will become operational at the beginning of the year 2023, following the various transfers of tangible and intangible assets. The deal was advised by the legal firm LCA, AZB Partners and Deloitte as transaction advisors.

 

With the acquisition of the engineering polymers division of Ester Industries Ltd., RadiciGroup High Performance Polymers will also become a prominent partner in the Asian market for customers in the E&E and lighting sectors.

 


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