Infra.Market announced that it is set to acquire majority ownership in Strata Geosystems for an enterprise value of Rs 910 crore from US-based Glen Raven. Additionally, the transaction also involves Strata India purchasing the entire 100% stake in the geosynthetics business of Glen Raven in the US.
Post this acquisition, the current operating shareholders of the company – Narendra Dalmia (Chief Executive Officer) and Gautam Dalmia (Chief Development Officer) – will continue to remain invested and lead the global operations at Strata.
Strata Geosystems specializes in reinforcing landfills, increasing load-bearing capacity of soils and earth, and preventing soil erosion. The incorporation of these geosynthetic solutions into Infra.Market’s portfolio would enhance its ability to provide comprehensive construction solutions to its customers, the company said in a press release.
The strategic acquisition would also align with Infra.Market’s long-term vision of transforming the construction industry in India. By combining their expertise in procurement, technology, and geotechnical engineering, Infra.Market aims to offer an integrated platform that caters to the diverse needs of construction projects across the country.
Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market focuses on high-volume construction products under its own brands and aims to solve issues such as a lack of price transparency, unreliable quality, fragmented vendor base, and inefficient logistics. It is currently present across 20 states in India and has also recently set up its global offices in Singapore and Dubai.
The Tiger Global-backed unicorn has now gone beyond B2B and has expanded its focus on retail and B2C opportunities and built its own private labelled brands.
Previously, it acquired RDC Concrete, Equiphunt and Halonix.