Indsur Group acquires Bidston’s Nevron Eurotherm Insulation in all cash deal
Mumbai based Indsur Group, casting and auto component manufacturers well versed in insulator casting for power infrastructure in India and China catering to the needs…
This deal has been under preview since early this year with Indsur Group Directors liaising with Wirral Council. Indsur Group purchase of Nevron entailed massive investment while providing opportunities for expansion and opening markets in many European countries as well.
Colin Tarry, former owner of Nevron is confident of the capabilities of Indsur Group being able to take Nevron operations to the next level. Mr S M Lodha of Indsur Group is also equally ecstatic of this new venture and looks forward to working together with Wirral Council to ensure success of the new business enterprise.
News release: Expansion key to Indian investment in Wirral insulation experts
A major Indian business has bought a Wirral-based insulation specialist with plans to significantly expand its operations.
Mumbai-based Indsur Group, a global leader in manufacturing insulator castings for power infrastructure, has acquired Bidston’s Nevron Eurotherm Insulation Ltd, which provides insulation and metal cladding solutions, in an all cash deal.
Officers from Wirral Council have been liaising with Indsur Group Directors since their meeting during a visit to India in July of this year. Invest Wirral, Wirral Council’s business support team, has provided support to Nevron for several years and will continue to offer proactive support to the new management in its expansion plans.
Leader of Wirral Council Cllr Phil Davies said: “This is a major investment from an industrial giant operating on the world stage, and a huge coup for Wirral’s business community. Indsur Group’s purchase of Nevron provides a significant opportunity for expansion, opening up markets in many European countries, and underlining the benefits that our engagement with emerging economies can have for Wirral’s growth. Seeking inward investment in Wirral businesses is a key facet of our award-winning Investment Strategy, which is delivering tangible results for Wirral’s communities.”
Colin Tarry, former owner of Nevron said: “I am confident that Indsur Group’s marketing expertise can take Nevron’s operations to the next level, providing resources that will enable it to become a global player in insulation solutions.”
Mr S M Lodha of Indsur group said: “We are extremely pleased that this deal has been completed. Nevron’s operations will be synergized with our own, with the result that we can begin expansion into other European countries immediately. I am very grateful for the support given by Wirral Council since our first meeting in India and look forward to continuing to work closely for the success of the company”
Indsur is a major provider for insulator castings for the power sector in India and China, automobile castings and transmission gears in India, and steel pipes for the oil and gas industries in the United States, North America and the Gulf.
UK Trade and Investment in Mumbai played a key role in identifying Nevron as a suitable candidate for Indsur’s expansion plans, providing expertise in market research, network support and one-to-one communication.