HLE Glascoat has signed definitive agreements to acquire the global business of Thaletec GmbH, Germany as well as its subsidiary Thaletec USA, as a part of its strategy to strengthen its position further in the global markets with innovative technology. As a part of the deal, both companies have mutually agreed that Thaletec will continue to have its distinct brand identity and remain a separate business entity post the acquisition.
The current promoters have agreed to divest their entire stake in Thaletec in an all cash transaction to HLE Glascoat. The acquisition will see the transfer of business, key technology and rich global experience garnered by Thaletec over the last two decades. Pursuant to the acquisition, Thaletec will become a wholly owned subsidiary of HLE Glascoat with the entire business of Thaletec being consolidated into the company. The acquisition is in line with the company strategy to expand its footprint globally and reinforces its position as a market leader in manufacturing innovative and specialized process equipment, customized solutions and systems.
HLE Glascoat is a leading manufacturer of process equipment for the chemical and pharmaceutical industries.
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