Ashvin Limbachiya, Ahmedabad
Ahmedabad, 30 July 2024
SAT Industries Limited, an NSE & BSE listed company engaged in the manufacturing, leasing, finance, investments, domestic trading and import & export sectors, has announced the acquisition of M.R. Organization Limited (MRO). MRO, with three international subsidiaries in the USA, UK and Belgium with exports to 75+ countries, is a prominent player providing air-compressor components and services to 29 industrial sectors and 3000 corporate. IBGrid was the sole investment banking advisor to M.R. Organization Limited for this deal.
Mr. Asad Daud, Director of SAT Industries Limited, “We are excited to announce our acquisition of a majority stake in M.R. Organization Limited. The acquisition of M.R. Organization Limited exemplifies our ability to identify and develop promising ventures while maintaining a balance for comprehensive growth.
Integrating M.R. Organization will improve our financial performance, and strengthen our market positioning. We believe this acquisition will drive significant value and contribute to long-term benefits to all our stakeholders.”
Mr. Mayur Kamdar, Founder and Managing Director of M.R. Organization Limited, “Joining forces with SAT group represents a pivotal moment for M.R.Organization Limited. Together, we will leverage our combined expertise to drive innovation and expand our market reach in India and abroad.”
Dr. Mayank Patel, Head of IBGrid, “We are delighted to advise shareholders of M.R. Organization Limited for their stake sale to SAT group. Since many Indian business groups are looking for genuine M&A opportunities due to succession challenges, we are bullish on the growth of the M&A market in India in the coming years.”
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