Merisis Advisors advises the Wayne Burt Group on its divestment of Hydraulics Cylinder Business to Pennar Industries

October 7, 2013
Industrial Technology
Press

Wayne-Burt Petro Chemicals Pvt. Ltd. (earlier known as Bailey Hydropower Pvt. Ltd.), part of the Wayne Burt Group has exited the hydraulics cylinder business by divesting it to Pennar Industries Ltd.Merisis Advisors, an M&A focused investment banking advisory firm, were the exclusive advisors to the transaction.Pennar Industries has acquired the production, engineering, product development program and existing customer relations of Wayne Burt, and the acquisition marks Pennar Industries foray into the Hydraulics Business.

Commenting on the deal, Mr. T.G.S. Mahesh, Founder and CEO of the Wayne Burt Group said “The hydraulic cylinder sector is an attractive segment for players like Pennar who are present in the value chain and in a position to derive additional value. Our group have recently forayed into the Defense, Aerospace, Oil & Gas, and Petrochemical industries and made substantial investments in these sectors. Pennar with its diversified engineering manufacturing capabilities is an ideal business partner to augment our growth plans in Defense and Aerospace business’ hydraulic cylinder requirements.”

“This deal is a step towards creating a more diversified product and solutions portfolio. The Indian market of hydraulic systems caters to domestic as well as global supply chain for construction and mining equipment, aerospace, defense, and agricultural equipment. Bailey Hydro products already have a market in North America and allow Pennar to have a footprint in global market. We intend to invest in Technology, Manufacturing and Market Development to emerge as one of the top three players in the hydraulic systems business in India” said Mr. Suhas Baxi, President & CEO of Pennar Industries.Mr. Sumir Verma, Managing Director, Merisis Advisors said “This deal recognizes the huge growth opportunity in the Hydraulic market on the back of the planned Government spend on infrastructure. Bailey Hydropower provides an excellent platform for a new company venturing into the Hydraulic space and looking to establish presence across the value chain. This transaction also establishes Merisis’ capability to identify potential new entrants into a sector.”

About the Wayne Burt GroupWayne- Burt Group– A $2 billion asset based conglomerate comprising of a group of companies of with diversified interests in Engineering & Aerospace, Oil & Gas, Petrochemicals and Energy businesses with a strong presence in India and USA. The Founder – Promoter of the Wayne Burt group – Mr. T.G.S.Mahesh is a first generation technocrat entrepreneur and an investment banker with experience across various sectors – IT, Telecom, Manufacturing, Banking and with the proven expertise of turning around companies into highly successful profitable ventures. For more information visit us at www.wayneburt.net

About Pennar Industries LtdPennar Industries Limited is one of the leading engineering organizations in India with diverse product offerings. It is a multi-product, multi-location enterprise, manufacturing a wide range of value-added steel products. Pennar’ s products find application in diverse segments such as Railways, Automobiles, Building & Construction, Pollution Control, Infrastructure, Road Safety Systems and General Engineering. For more Information visit us at www.pennarindia.com

About Merisis AdvisorsMerisis Advisors is an investment banking advisory firm, offering independent advisory services to emerging growth and mid-market corporate clients and family offices, on mergers and acquisitions as well as fund raising activities.

For more information please visit us at www.merisisadvisors.com

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