Conmat Group Acquires 100% Stake in KYB Conmat Private Limited
Vadodara-based Conmat Group has acquired a 100% stake in KYB Conmat Private Limited, a leading manufacturer of concrete construction equipment, including batching plants, paving machines, transit mixers, concrete pumps, and self-loading mixers.
The Share Purchase Agreement was signed, and the acquisition was finalized on January 6, 2025.
The Joint Venture was formed in 2013 when KYB Corporation of Japan (“KYB”) acquired a 51% stake in Conmat Systems Pvt. Ltd. and was operated as a JV company to produce transit mixers in India using KYB technology.
Under the current agreement, KYB has granted a non-exclusive license to allow the Company to continue using the existing transit mixer technology.
The Company will continue to manufacture all the existing Products to sell in India and export Globally.
The 100% ownership of the Company will empower Conmat to take prompt decisions and steps which are necessary to speed up growth. This will also enable the Company to make necessary investment to set up new World Class manufacturing facilities, to cater to the growing market requirement.
India is aspiring to be a Developed Nation by 2047, and to achieve this ambitious target, a substantial investment in Infrastructure will be required. Further, there is a growing need to develop and manufacture advance construction equipment not only to suit the Indian working conditions, but also to achieve the objective of “Make in India for the World”. Identifying this need, Conmat Group decided to invest in the acquisition and leverage its Design & Development capabilities to manufacture higher capacity machines.
Talking about the acquisition, Premraj Keshyep, the founder of Conmat Group of Industries, said, “With this acquisition, the Company has taken a significant step towards making India “Atmanirbhar Bharat” in true sense.”
Conmat Group has always been in the forefront of Innovation and Technology and has made substantial investment in Research & Development. With this capability, it has been able to roll out technologically advanced products quickly & frequently. The Company is now extending its Product portfolio of Concrete Equipment, developing Electric and AI Driven Machines and also diversifying into manufacturing Earthmoving Machinery.
