AHMEDABAD: SAT Industries Limited, a BSE and NSE listed company engaged in the manufacturing, leasing, finance, investments, domestic trading and import- export sectors, has announced the acquisition of Ahmedabad based M.R.Organisation Limited (MRO) for Rs 115 crore. The company informed the exchange about the acquisition .
MRO, with three international subsidiaries in the USA, UK and Belgium with exports to more than 75 countries, is a prominent player providing air-compressor components and services to 29 industrial sectors and 3,000 corporates.IBGrid was the investment banking advisor to M.R. Organisation Limited for this deal.Asad Daud, director of SAT Industries Limited, said “The acquisition of majority stake in M.R. Organisation Ltd exemplifies our ability to identify and develop promising ventures while maintaining a balance for comprehensive growth. Integrating M.R. Organisation will improve our financial performance, and strengthen our market positioning. We believe this acquisition will drive significant value and contribute to long-term benefits to all our stakeholders.”. Mayur Kamdar, founder and managing director of M.R. Organisation Limited, “Joining forces with SAT group represents a pivotal moment for M.R. Organisation. Together, we will leverage our combined expertise to drive innovation and expand our market reach in India and abroad.”
Rs 115.47 crores transaction value for 90% stake of the company will be paid in 4 tranches. The entire transaction will be fully funded through internal accruals of SAT Industries Limited. In the first tranche 51% stake will be acquired, and MRO will become a subsidiary of SAT
