Southco Acquires Darshana Industries For $50 mn
- ByStartupStory | May 30, 2022
Southco, which is owned by touchpoint Inc is a US based company, has acquired Pune- based manufacturer Darshana industries. It is a global designer and a manufacturer of engineered action solutions.
The acquisition is worth $50 million and is marked as Southco’s first investment in India. It claims to have served over 100,000 customers across 80 nations and has 7 manufacturing and warehousing locations across 9 countries.
Southco was founded in 1899 as a specialty pipe manufacturer. It claims to be a key part of products you and thousands of others interact with every day. According to the company, Darshana has grown a lot with the assistance and partnership of southco and has become a leading player in its segment in India.They further added that”We are excited at the opportunity for Darshana to enter the next phase of growth with the help of Southco’s global footprint and expertise.”
Darshana, founded in 1982 makes mechanical components like hinges,support arm, locks , handles among others access hardware. It reportedly has 260 employees who design and customise 6,000 products.
The deal has Lincoln International Advisors Private Limited as financial advisor to Darshana which helped the company to put together the transaction and assisted the shareholders to achieve the best possible outcome.
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