Thermax acquires Buildtech Products for approximately ₹72 crore, subject to various transaction adjustments. The energy and environment solutions provider signed an agreement to acquire a 100% stake in Buildtech Products India Private Limited. The company manufactures admixtures, accelerators and capsules used in tunnels, infrastructure and railway projects.
This partnership solidifies Thermax’s presence in the construction chemicals sector. The Indian construction chemicals market was valued at $3.76 Billion in 2024 and is expected to reach $5.17 Billion by 2030.
As per the press release, Thermax actively contributes to the growth of the Indian construction chemicals sector with its expertise in the field of chemicals offering an extensive range of products for infrastructure, industrial, and commercial usage.
Ashish Bhandari, MD & CEO Thermax said, “Chemicals has been a key area of investment for Thermax. Buildtech’s products have created a niche in the sector with specialised offerings in the field of major civil repairs, waterproofing, plumbing, painting and allied works of multistoried buildings and structures. Buildtech’s strong reputation and innovative product portfolio, combined with Thermax’s expertise and commitment to sustainable growth, will enable us to deliver enhanced value to our customers. This strategic acquisition further reinforces our commitment to support India’s infrastructure development with advanced solutions that meet the industry’s evolving needs”.
