Wavin, a solutions provider for the building and infrastructure industry and an Orbia business, has announced it will be acquiring a majority stake in Vectus Industries, a manufacturer of plumbing and drainage pipes in India. With this joint venture, Orbia’s building and infrastructure businesses will operate at the forefront of India’s growing water management industry, supplying customers in the residential, commercial, industrial, infrastructure, and agricultural sectors.
The deal is expected to close in Q1 2022 and represents an important strategic investment. Wavin has been expanding its product and regional footprints as Vectus will continue to provide plastic pipes and tanks to support the above- and below-ground building segments, complementing Wavin’s full spectrum of solutions for drinking water, wastewater and rainwater management. Applications range from sustainable urban and semi-urban building environments to efficient residential plumbing systems.
Said Ashish Baheti, managing director of Vectus, commented: “The Indian pipes, fittings and water tanks market has been growing rapidly over the last decade. By combining our strong distribution network and deep understanding of the Indian market with Wavin’s technological expertise and global footprint, we will be positioned to capitalise on India’s huge growth potential and deliver for our customers.”
The complementary strengths of this partnership will enable it to play a key role in the real estate development of India’s tier II and III cities and continued government investment in affordable housing.
Said Sameer Bharadwaj, CEO of Orbia, added: “With national expenditures in building and infrastructure ramping up, India is positioned for a strong recovery and increased demand for solutions that enable the continued development and resilience of rural and urban India. This acquisition provides us with local presence and know-how, expanded capacity and a strong dealer and customer base for our end-to-end water management offerings that advance life around the world.”