BDK Valves, Gurukrupa Group Takeover Theis Precision Steel

BDK Valves, a manufacturer of Industrial valves, and Gurukrupa Group, a realty developer in western India, acquired a 100 percent stake in Theis Precision Steel India (Theis Precision).

This is the second acquisition of international companies by the promoter group to serve customers in India and across the world.

Theis Precision, formerly owned by Tata Steel, caters to the need of various market segments such as automotive, textile machinery, cutting blades/saws, office machinery, general engineering, etc. It specializes in catering to customized requirements such as desired surface finish, roughness, tempering, dimensional tolerances, and packaging. In addition, the division has the capability of supplying hot-rolled solid profiles, cold-drawn profiles, and profiles in ready-to-use form. Theis Precision’s latest addition to the product portfolio is Hardened & Tempered strips with a unique environmentally friendly Quench Media.

Arjen Rijpkema, CEO of Mahler Asia BV in the Netherlands, said, “This sale of Theis Precision Steel to BDK and Gurukrupa brings it back to Indian family ownership after Theis Gmbh in Germany (which was owned by Mahler Asia) acquired it from Tata Steel in 2008. We are convinced that the new owners will contribute strongly to the further development of the company. They bring in-depth knowledge of the steel market, manufacturing, and real estate experience, which all can strengthen the business. They are geographically much closer to the plant, enabling them to be more hands-on and directly involved as promoters than we could ever be from the long distance in Europe. Furthermore, I am certain that the new owners will professionally steer Theis Precision towards modernization and accelerated growth, which is fundamental to the business.”

Shyam Mehta, Director of Theis Precision Steel India, said, "The acquisition of ‘one-stop one-window’ Theis Precision Steel is a unique value-enhancing deal bringing a pioneer in specialty cold rolling of high/medium carbon steels into our fold. This acquisition expands our portfolio presence and showcases our commitment to drive value for our customers. As a leading specialty cold-rolled steel strips manufacturer in the country, Theis Precision is the only manufacturer of precision hot-rolled solid steel profile sections by a unique process, to satisfy the customers whose needs may be small in quantity but expectations are large. We look forward to combining BDK Valve's capabilities with the talent and expertise brought by Theis Precision's team as we expand our market presence.”

Chetan Kothari, Director of Theis Precision Steel India, said, “With the backing of BDK Valves and Gurukrupa Group, Theis Precision Steel can now become an undisputed leader in its market segment and accelerate growth & expansion. The diversification in manufacturing and synergies in terms of manufacturing facilities, processes, and products will give us an edge and add to the products and services offered by us to customers. Theis Precision Steel has products across sectors such as agriculture, automotive, construction, cutting tools, earthmoving, and textile machinery among others. We will further invest capital in the company to quadruple our volumes to be a global player in the specialty steel business.”