Thermax, a prominent player in the energy and environment solutions sector, has made a significant leap in its business strategy by acquiring Buildtech Products India for approximately Rs 72 crore. This acquisition, aimed at securing a 100 per cent stake in the critical construction chemicals manufacturer, marks Thermax’s strategic entry into a rapidly expanding market, thereby bolstering its portfolio and capabilities in the construction sector.
Established in 1995, Buildtech Products India has carved out a niche for itself in the manufacturing of essential admixtures, accelerators, and capsules utilised in various infrastructure projects, including tunnels and railways. This move aligns perfectly with Thermax’s ambition to broaden its product offerings and reinforce its commitment to supporting India’s infrastructure development. The Indian construction chemicals market is currently valued at USD 3.76 billion and is projected to grow to USD 5.17 billion by 2030, demonstrating a robust compound annual growth rate (CAGR) of 5.64 per cent. This growth trajectory presents a promising opportunity for companies like Thermax, which aims to leverage this momentum through strategic acquisitions.
Ashish Bhandari, Managing Director and CEO of Thermax, highlighted the significance of this acquisition, stating, “Chemicals have been a key area of investment for Thermax. Buildtech’s specialised products cater to a crucial segment of civil repairs, waterproofing, and other allied works essential for the construction of multi-storied buildings.” By integrating Buildtech’s advanced solutions, Thermax aims to meet the evolving needs of the industry, ensuring the delivery of high-quality and sustainable products. The emotional undercurrent of this acquisition lies in its potential impact on local communities and the construction industry as a whole. As infrastructure projects increasingly demand innovative and efficient solutions, the incorporation of Buildtech’s products could enhance the durability and sustainability of construction practices across India. This, in turn, supports job creation and economic development, addressing broader societal needs. Public sentiment around this acquisition is largely positive, with industry stakeholders recognising the critical need for sustainable construction practices in an era where environmental concerns are paramount. Many professionals in the sector express hope that such strategic acquisitions will lead to enhanced innovation and more robust infrastructure, ultimately benefiting the populace at large.
