Takasago Thermal of Japan buys 26% stake in ICLEAN

| Updated on: Dec 17, 2015

Takasago Thermal Engineering Company Limited (TTE) has acquired 26 per cent stake in cleanroom technology company Integrated Cleanroom Technologies (ICLEAN) for an undisclosed sum.

Founded in 1923, the Japanese company, listed on the Tokyo Stock Exchange, sees this strategic stake acquisition in ICLEAN, playing a role in its expansion in the region and potentially serving as a hub for other markets.

Strategic tie-up

“ICLEAN, based in Hyderabad, is a leading cleanroom engineering company with three manufacturing units. The strategic association with TTE, with a number of patented products and technologies developed over the years, will enable us to scale up and tap the potential in other markets in the region,” K Gopi, Managing Director of Integrated Cleanroom Technologies, told BusinessLine.

“Through this association, we plan to expand the scope of services we offer to pharma, defence, electronics firms and other sectors in setting up clean rooms not only in the domestic markets but in other markets where TTE is seeking to expand its presence,” he explained.

Cleanroom is a specially developed facility for manufacturing, research and defence applications.

India, key market

Masato Nakamura, General Manager, International Business Management Division, said the company sees India as a major potential market and this association helping them address the growing opportunities in other markets in the region. “While we will offer new products and technology solutions, ICLEAN will help manufacture and implement them,” he said.

“We currently have manufacturing facilities in Telangana, Andhra Pradesh and Gujarat for different requirements and technology solutions such as prefabrication buildings, air handling units, lab furniture, dispensing booths and other products; we are looking at setting up another manufacturing unit following this strategic association with TEE,” Gopi said.

While TTE closed last financial year with a turnover of 243 billion Yen, (about $2.5 billion), ICLEAN, which employs over 800 people, and growing at a compounded annual growth rate of over 40 per cent, last year closed with a turnover of ₹310 crore.

While 7iAdvisors LLP served as an investment banker, Universal Legal was the legal advisory firm for the deal.

Published on January 22, 2018

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