Thermax Set to Acquire Buildtech Products India.

Thermax announced recently that it has signed an agreement to acquire Buildtech Products India, a manufacturer of critical construction chemicals, for approximately ₹72 crore. This move strengthens Thermax's foothold in the construction chemicals sector, according to a company statement.

The deal involves acquiring a 100% stake in Buildtech Products India Pvt Ltd, with the final amount subject to various transaction adjustments. Established in 1995, Buildtech Products India specializes in manufacturing admixtures, accelerators, and capsules used in tunnels, infrastructure, and railway projects.

The Indian construction chemicals market is currently valued at USD 3.76 billion and is projected to grow to USD 5.17 billion by 2030, reflecting a compound annual growth rate (CAGR) of 5.64%, the statement noted.

The acquisition process will be finalized in due course.

"Chemicals have been a key area of investment for Thermax. Buildtech's products have established a niche in the sector, particularly in major civil repairs, waterproofing, plumbing, painting, and related works for multi-storied buildings and structures," said Ashish Bhandari, Managing Director and CEO of Thermax.

He added that this strategic acquisition further reinforces the company’s commitment to support India’s infrastructure development with advanced solutions tailored to meet the evolving needs of the industry.

ET