Mumbai: Casting and auto component manufacturer Indsur Group today said it has acquired UK-based Nevron Eurotherm Insulation in an all cash deal.
The deal size is not disclosed.
Nevron is one of the leading providers of thermal industrial insulation service.
"This is our first acquisition in the UK. We are extremely pleased that this investment has been completed. Nevron's operations will be synergised with our own, with the result that we can begin expansion into other European countries immediately," Indsur Group Director S M Lodha said in a statement issued here.
The acquisition will help Indsur to have a marketing set up in the UK which can cater to European market and increase its exports.
"Nevron is into industrial insulation business which has good market potential in other European countries and, therefore, we propose to expand its activities to other European countries. We are also exploring synergies with Nevron's operations that can take us to a new era of growth," the company said.