Zetwerk Acquires 3 Firms Worth INR 100 crore

Bengaluru, India – Zetwerk Manufacturing Businesses, the world’s largest managed marketplace for contract manufacturing, has announced the acquisition of Pinaka Aerospace Solutions, a leading manufacturer in the defense and aerospace sectors that specializes in Avionics, Electronic interception, and Communication systems to strengthen its manufacturing capabilities in Aerospace and defense. The acquisition provides Zetwerk with an opportunity in a market that is undergoing transformation as a result of import substitution, system and platform upgrades, and promotion of the domestic Aerospace & defense (A&D) industry.

Pinaka Aerospace Solutions brings Zetwerk a distinguished client portfolio and expertise in a wide range of A&D electronic communication products, including radar systems, avionics, radars, and other communication devices. Zetwerk can meet the manufacturing needs of established public and private sector enterprises in the country by leveraging Pinaka’s capabilities. Among its clients are Indian defense units, government research facilities such as DRDO and ISRO, and enterprise clients such as Carlisle, Tata, AVTEC, BEL, and HAL. Zetwerk has acquired a majority stake in the company through a deal that was a mix of equity and cash.

Zetwerk has also acquired a significant majority stake in Sharp Tanks as well as a 100 percent stake in Wheels India’s Wardha factory. The combined value of the three strategic acquisitions is around INR100 Cr.

Sharp Tanks’ acquisition will broaden Zetwerk’s exposure to the Oil and Gas industry. Sharp Tanks provides clients in the Oil & Gas, Petrochemicals, Fertilizers, and Chemicals industries with design, fabrication, and commissioning of equipment and structural works. Zetwerk will become one of seven companies in the country operating in this space as a result of this acquisition.

The acquisition of Wheels India’s Wardha fabrication unit allows Zetwerk to enter a US$1.5 billion market comprising the manufacturing of critical fabricated parts for power, roads, and railways. Zetwerk, for example, uses this facility to supply fabricated girders for the high-speed bullet train project between Mumbai and Ahmedabad. The digital manufacturing unicorn has been on a roll, recently commissioning a new factory in Noida for wearable and hearable devices to expand its manufacturing capabilities. Furthermore, it has expanded its product line, team, and customer base with the larger objective of foraying into more niche markets and businesses.

“The Indian Industrials ecosystem, including aerospace and defense manufacturing, has evolved radically, emerging as a strong contender for its global counterparts. However, we believe this is just the beginning, and we are excited to partner with entities that share our vision to drive India’s self-reliance in manufacturing. At Zetwerk, our conviction in the Indian manufacturing story is profound, and we foresee significant momentum in the industrials segment for the next ten years, aided by global supply chain tailwinds,” explained Amrit Acharya, Co-Founder & CEO, Zetwerk Manufacturing Businesses.

He further added, “Zetwerk and Pinaka have a history of working together, and we are confident that our combined capabilities will help shape the A&D industry as we bring back demand for Indian manufacturing from global OEMs. As we scale and expand further, we will look to add more homegrown manufacturing companies into our portfolio to grow our business.”

Image Source: Zetwerk Manufacturing Businesses Pvt Ltd