S&W is one of the leading Mechanical , Electrical and Plumbing (MEP) contracting
companies in the country.
Commenting on the transaction, Khurshed Daruvala, managing director of S&W, said that financial
support from Goldman Sachs will supplement existing support from the Shapoorji Pallonji Group and enable S&W to accelerate its growth plans both domestically and internationally.
The MEP market in India is at an inflexion point. Although highly fragmented, the overall market is expected to grow at more than 20% per annum for the next few years and is fast moving towards consolidated MEP packages, resulting in expected growth rate of consolidated MEP orders to be north of 40% per annum.
With the increase in sizes of real estate projects, sizes of MEP contracts are also going up and currently, there are only a handful of players in India that have the ability to service such large contracts.
In last 5 years, the company has demonstrated an annual growth rate of more than 80%. To capitalise on its track record of executing projects in countries like Ghana, Mauritius, Vietnam etc., the company has recently started a subsidiary in UAE.
Avendus Capital was the exclusive financial advisor for the transaction.
