Grindwell Norton Acquires PRS Permacel
24 June 2022: Grindwell Norton Ltd. (GNO), a Saint-Gobain Group company in India has completed the acquisition of PRS Permacel (P) Ltd. a manufacturer of specialty adhesive tape and label solutions, from the PRS Group, founded by the Premchand family in 1856. This acquisition will facilitate its seamless integration with GNO’s Composite Systems business unit.
PRS Permacel develops and markets a wide range of adhesive tape and thermal insulation solutions for the industrial, railways & metro, 2 wheelers and EV markets. The company has a manufacturing facility in Ambernath near Mumbai and employs 176 people.
EY and Allegro Capital advised GNO and the PRS Group respectively on this transaction. This acquisition is fully in line with Saint-Gobain’s “Grow & Impact” strategy and will strengthen the Group’s presence and accelerate its growth in Asia, in particular in India.
Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group’s commitment is guided by its purpose, “Making the world a better home”.
Grindwell Norton (GNO), a company listed on the Bombay and National Stock Exchanges, pioneered the manufacture of grinding wheels in India in 1941. In 1990, Saint-Gobain acquired Norton Company, USA, worldwide and thereby became a shareholder in GNO. In 1996, Saint-Gobain increased its equity stake, making GNO its first majority-owned subsidiary in India.
Today, GNO’s businesses include: Abrasives, Ceramic Materials Businesses (Silicon Carbide and Performance Ceramics & Refractories), Performance Plastics and ADFORS. Saint-Gobain Country Head office, INDEC (the captive India IT Development Centre for Saint-Gobain Group globally) and CertainTeed are also part of GNO. GNO’s subsidiary, Saint-Gobain Ceramic Materials Bhutan (P) Ltd., manufactures Silicon Carbide. Group currently holds 51.66% of the equity capital of GNO.
PRS Permacel (P) Ltd., Mumbai offers solutions for brand protection, brand enhancement and identification & insulation (thermal and electrical) problems.
