The US-based Hollingsworth & Vose Company (H&V) today announced the acquisition of Mysore-based Raman FibreScience Pvt Ltd for an undisclosed amount.
Raman FibreScience is a technology and innovation-driven company specialising in wet-laid, fiber-based materials for filtration media and battery separator applications.
Hollingsworth & Vose Company is a global leader in these markets with operations world-wide.
Commenting on the acquisition, H&V CEO Val Hollingsworth in a release said, "Raman FibreScience has a highly professional team with considerable experience in fibre forming technology. They have a unique culture where R&D and manufacturing are highly integrated and they have leveraged this capability to develop and take to international markets some very unique and innovative products."
"For H&V, India represents an exciting market and the RFS Mysore location and team provide H&V a strong, on-the-ground operational base with which to build and grow our India presence."
Aroon Raman, Managing Director of Raman Fibre Science said, "We are both privately held companies with world-class technical capabilities, and a policy of investing in innovation for the long term."
Raman will continue on the board of the acquired company, the release said, adding that the acquisition is effective immediately.
Veda Corporate Advisors were advisors to the transaction in India.
