Germany's Norma Group has signed an agreement to acquire Nashik-based Kimplas Piping Systems Ltd, an equipment manufacturer for the micro-irrigation and auto industries. While the companies did not disclose the deal size, sources close to the development pegged it at about ₹500 crore.

Kimplas — set up in 1996 — is a manufacturer of electrofusion, compression fittings valves and proprietary equipment for micro-irrigation Industry. The company, which has 690 employees, posted revenues of about ₹175 crore for the financial year ended March 31, 2018.

“We are expanding our expertise in water management solutions in the fast growing Indian market by adding Kimplas’ products to our portfolio. Kimplas’ expertise will help us to drive, for instance, the usage of efficient irrigation solutions in markets that are particularly threatened by water shortage,” said Bernd Kleinhens, Chairman, Norma Group.

Kimplas' customers include water supply boards, gas distribution companies, micro-irrigation companies, building and construction businesses. It also distributes plastic pipes and imported fittings as well as electrofusion welding machines and tools.

The €1-billion Norma Group had started Indian operations in 2008 with a plant in Pune focussing on fluid handling and joining technology, mainly for the domestic automotive industry. Norma Group expanded into the water management business since 2012 by making select acquisitions in Malaysia, Australia and the US.

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