Grindwell Norton Ltd. (GNO), a Saint-Gobain Group company in India has completed the acquisition of PRS Permacel Pvt. Ltd., a manufacturer of specialty adhesive tape and label solutions, from the PRS Group, founded by the Premchand family in 1856. This acquisition will facilitate its seamless integration with GNO’s Composite Systems business unit.
PRS Permacel develops and markets a wide range of adhesive tape and thermal insulation solutions for the industrial, railways & metro, 2 wheelers and EV markets. The company has a manufacturing facility in Ambernath near Mumbai and employs 176 people.
EY and Allegro Capital advised GNO and the PRS Group respectively on this transaction. This acquisition is fully in line with Saint-Gobain’s “Grow & Impact” strategy and will strengthen the Group’s presence and accelerate its growth in Asia, in particular in India.