2021/08/18

BDA advises Trillium Flow Technologies on sale of India business to IMC Swarnaa

Divested India business to IMC Swarnaa Ventures Pvt Ltd

2021

BDA Partners is pleased to announce that it advised Trillium Flow Technologies on the sale of its India business. The buyer was IMC Swarnaa Ventures Pvt Ltd, a JV between The Indian Mineral Company (“IMC”) and Swarnaa Group. The terms of the transaction were not disclosed.

The business in India manufactures industrial valves for the oil & gas, water, chemical and power industries. It’s a leading manufacturer of ball valves, butterfly valves, diaphragm valves, safety relief valves and plug valves under the BDK™ Valves brand.

In 2010, BDA advised on the acquisition of BDK™ Valves, originally known as BDK™ Engineering Services, by The Weir Group. Flow Control division of Weir Group, which included BDK™, was acquired by funds controlled by First Reserve Corporation and renamed as Trillium Flow Technologies in 2019.

IMC is a leading distributor of steel products in India. Swarnaa Group is a leading construction company in South India. They formed a JV, IMC Swarnaa Ventures, to acquire the India business and corresponding BDK™ product line.

The transaction enables Trillium Flow Technologies to streamline its product offerings and best match the needs of their customers. IMC Swarnaa gets the opportunity to establish a valve manufacturing presence in its core market.

Kumar Mahtani, Managing Director, BDA Partners, said: “We’re happy to have helped Trillium Flow Technologies find an ideal partner for its India valves business. We’re happy to have worked on another successful transaction for the BDK Valves brand, with which we have worked for over ten years. This latest transaction will help the BDK™ business to scale up. BDA continues to identify and execute optimal, value-added M&A solutions for multinational clients in India.”

About Trillium Flow Technologies

Trillium Flow Technologies is a global designer, manufacturer, and aftermarket services provider of engineered valves and pumps used in energy and broader industrial applications. Its established portfolio of brands serves customers in the power generation, oil and gas, water and wastewater, mining, and industrial sectors. www.trilliumflow.com

About IMC

IMC (Indian Mineral Company) is a leading distributor of steel products in India through a network of 400 dealers and channel partners. Established in 1965, IMC is a supplier of TMT steel bars, bends, bearings, and other industrial products. It is headquartered in Karnataka, India. https://indianmineral.com/

About Swarnaa Group

Swarnaa Group is a leading real estate construction and fabrication player in South India with headquarters in Chennai, India.  www.swarnagroupofcompanies.com

About BDA Partners

BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with 25 years experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul, and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.

BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.

US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc., a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorised and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com