Germany based Burgmann Industries and Japan based Eagle Industry have merged their mechanical seals operations in India. The new entity will be called EagleBurgmann India Pvt. Ltd. The combined value of the transaction is approximately $70 million. Both Eagle and Burgmann are the makers of mechanical seals and sealing systems, which are used in various industries like power generation, oil and gas production and refinery & petrochemicals etc. Both the companies have been operating in India through separate entities and with different local partners. As part of its global integration strategy, Eagle and Burgmann decided to buyout both the local joint-venture partners and pool the resources of the separate entities into a single vehicle. Both the companies hold equal stakes in the newly formed entity. The combined value of the transaction was approximately $70 Million. The legal and operation integration as well as the negotiations with the local partners were facilitated by BMR Advisors. Besides enlarging the product base, the integration of the operations of the two companies is expected to provide better economic, operational, financial, technological and market synergies. Burgmann Group’s product range includes mechanical seals, gas lubricated seals, seal supply systems, magnetic couplings, stuffing box packings, static seals, automotive seals, rotary kiln sealing systems and expansion joints. The product portfolio of eagle Industry includes mechanical seals, valves, plant devices, marine products, bellows devices, and related installation work.
Source: VCCIRCLE
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