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 of US and Gulf countries where supplies of steel pipes for oil and gas industry is concerned. This Indian based Group has acquired Bidston’s Nevron Eurotherm Insulation Limited to provide insulation and metal cladding solutions and brings with it a Wirral based insulation specialist with plans to expand their operations in the country.
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.
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.
Indsur takes over Nevron
Indsur Group, Mumbai based world leading auto parts and casting producer, took over UK based and Bidston located Nevron Eurotherm InsulationLimited, a supplier of metal cladding and insulation solutions. Indsur’s resources and marketing expertise is expected to take Nevron to higher level and make a global player for insulation solutions. The takeover also brings in Wirral located insulation specialist for their expansion plans of Indian operations.
Wirral Council mediated the all cash deal involving heavy investment. The acquisition opens up markets in a number of European countries to Indsur and provides expansion opportunities.
Invest Wirral, the business supporting team of Wirral Council, provided support for many years to Nevron, and would continue to proactively support expansion plans of the new management. Indsur, pleased with the deal and looking forward to Wirral Council’s support, plans to expand to other European nations immediately by aligning operations of both Nevron and Indsur.
The purchase of Nevron is considered a massive investment in the world and a huge takeover for Wirral’s business. At the same time, the investment is seen as Wirral Council’s prize-winning investing strategy in the business growth of Wirral community.
Indsur is a global leader and power sector’s major provider of insulator castings in China and India, transmission gears and automobile castings in India. Indsur also supplies steel pipes in North America, United States and China to gas and oil industries.