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Zetwerk, a manufacturing services unicorn, has acquired Unimacts, a manufacturing services company at a valuation of $39 million, to strengthen its international operations.
The acquisition of Unimacts will position Zetwerk for additional expansion and diversification, providing immediate access to marquee solar and wind-power customers. Zetwerk will also gain access to the large-scale consolidated demand Unimacts has generated thus far, which will be serviced by the company’s global supply base, said the company.
Amrit Acharya, Co-founder, and CEO of Zetwerk, told businessline, “With this acquisition, our intent is to solidify our strength in renewables primarily for the US markets. Over 10-15 per cent of our revenue last year came from international markets but we didn’t have a leadership team. Hence our goal is to build that leadership team and be closer to our customers.”
He added, “Unimacts’ offerings in the US, Europe, and Mexico markets complement our existing portfolio and vision of being a global leader in the manufacturing space. This acquisition will immediately expand our presence in North America and position Zetwerk for additional expansion in the coming months.”
The company also said that it will benefit from Unimacts’ industry expertise in renewable energy manufacturing and an endless supply of highly specified mechanical products, logistics support, design for manufacturing, inventory management, and near-customer warehousing.
Financial results
Zetwerk’s 2021-2022 financial results showcased that the company’s gross merchandise value grew six-fold to $770 million from $130 million, and the operating revenue expanded to $670 million from $110 million in 2020-2021. The company says it is on track to do well over $1 billion in revenue in the current fiscal year.
The executive team at Unimacts, including Matthew Arnold, CEO, Andrew Woglom, CFO, and Alan Hays, COO, along with the team at Unimacts, will be joining Zetwerk, bringing the global employee count to 1,900.
Unimacts’ customer relations, supply partners, and business operations will remain unaffected, the company said.
This is Zetwerk’s fourth acquisition. It has acquired three Indian manufacturing supply chains across the aerospace & defense, oil & gas, and railways segment. The company has more than 2,000 customers across North America, Asia-Pacific, and the Middle East, and a network of more than 10,000 manufacturing partners worldwide.
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