Shares of Jash Engineering Ltd rose more than 2% on Thursday, July 10, after the company announced the potential acquisition of 80% of WesTech Process Equipment India from WesTech LLC, USA and an additional 10% stake held by employees of the Indian entity.This strategic acquisition marks our entry into the fast-growing industrial process equipment segment, where we previously had a limited presence, the company said in a stock exchange announcement. The takeover serves as a strong complement to our existing Shivpad Process Equipment Division in Chennai, which currently focuses on the municipal segment, it added.
The Indore-based Jash Engineering aims to complete due diligence and sign the share purchase agreement (SPA) by the end of August 2025 and expect to close the acquisition by September/October this year.
Under the proposed deal, the remaining 10% stake will be acquired from the employees after three years at a pre-agreed valuation multiple, the update said.
This bolt-on acquisition aligns with growth strategy, expanding our service portfolio. The combined turnover of WesTech India arm and Shivpad for FY25 exceeds ₹100 crore, positioning us one of the leading players in the municipal and industrial water process equipment in India, the company said.WesTech, as it does not own any manufacturing facility, will share Shivpad’s recently commissioned new production facility in Chennai. This acquisition also enables Jash to enter industrial segments such as mining, metal and paper, where our footprint has been limited.
The Indore-based Jash Engineering aims to complete due diligence and sign the share purchase agreement (SPA) by the end of August 2025 and expect to close the acquisition by September/October this year.
Under the proposed deal, the remaining 10% stake will be acquired from the employees after three years at a pre-agreed valuation multiple, the update said.
This bolt-on acquisition aligns with growth strategy, expanding our service portfolio. The combined turnover of WesTech India arm and Shivpad for FY25 exceeds ₹100 crore, positioning us one of the leading players in the municipal and industrial water process equipment in India, the company said.WesTech, as it does not own any manufacturing facility, will share Shivpad’s recently commissioned new production facility in Chennai. This acquisition also enables Jash to enter industrial segments such as mining, metal and paper, where our footprint has been limited.
In January, the company announced that it would raise around ₹41.58 crore from a group of investors and a promoter. The company issued convertible warrants as well as equity shares to a promoter and 20 non-promoter entities to raise the amount.
Jash Engineers Ltd manufactures a wide range of equipment for water & sea water intake systems, water and wastewater pumping stations and treatment plants and others. It has five manufacturing plants and around 950 employees. More than 50% of its revenue comes from exports out of India.
Shares of Jash Engineering are trading 2.39% higher at ₹587.85 on the NSE. Meanwhile, the company’s stock has grown by as much as 38% in the last year.
