Infra.Market Acquires Majority Stake In Strata Geosystems
Infra.Market, a Tiger Global backed business-to-business construction material company, will acquire a majority ownership in Strata Geosystems, for Rs 910 crore from US-based Glen Raven Technical Fabrics.
Strata Geosystems was one of the early Indian investors in geotextiles, which address needs of the infrastructure sector like retaining walls, reinforced soil slopes and embankments in highways, landfills, mines, railways, ports, container yards and more.
“We are attempting to build the largest multi-product construction material offering not only in the country but globally,” Aaditya Sharda, Co-Founder of Infra.Market said.
“The acquisition of Strata further enhances our capabilities in offering solutions across geosynthetics and related engineering and emboldens our vision to revolutionise the construction ecosystem across all product lines and services,” he added.
The founders of Strata Geosystems, Narendra Dalmia, who is the CEO and Gautam Dalmia, Chief Development Officer, will continue to remain invested and lead operations at Strata.