Thermax, an energy and environment solutions provider has signed an agreement to acquire a 100% stake in Buildtech Products, a company manufacturing admixtures, accelerators and capsules.
This acquisition, valued at around ₹72 crore, marks Thermax’s entrance into the niche 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 with a CAGR of 5.64%.
Speaking on the partnership, 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.”
