Khaitan & Co acted for Strata Geosystems (India) Private Limited

Khaitan & Co acted for Strata Geosystems (India) Private Limited

Khaitan & Co, a prominent Indian law firm, provided legal counsel to Strata Geosystems (India) Private Limited and its shareholders, including Omnitex Industries (India) Limited, Strata Systems, Incorporated, and Glen Raven Technical Fabrics, LLC. The advisory was regarding the acquisition of a majority stake in Strata Geosystems (India) Private Limited, known as the "Target," by Hella Infra Market Private Limited ("Acquirer"). The acquisition involved both primary and secondary investments, as well as the Target's acquisition of the US business of Strata Systems, Incorporated.

Under the terms of the deal, Narendra Dalmia, together with Gautam Dalmia, Strata's chief development officer, will retain a minority stake in the Target and continue to lead the global operations at Strata. The acquisition is financed through funds raised by the Acquirer from Varde Partners and is an all-cash transaction.

The firm provided comprehensive legal advisory services, covering all aspects of the transaction. This included advising on the optimal structure, conducting thorough legal due diligence on the Target, and drafting, negotiating, and finalising various transaction documents. These documents encompassed the share subscription and purchase agreement, as well as the shareholders' agreement. In addition, the firm assisted with the preparation of various board, corporate, and stock exchange-related documents.

The core Khaitan & Co. team, comprising Niren Patel (Partner), Vidur Sinha (Partner), and Divakar Gupta (Principal Associate), received assistance from various members for different aspects of the transaction. Aabha Dixit (Associate) and Zico Bahl (Associate) conducted legal due diligence on the Target, focusing on corporate, corporate finance, regulatory, contract, insurance, and litigation matters.

Deepak Kumar (Partner) and Archika Dudhwewala (Senior Associate) performed legal due diligence on employment-related aspects of the Target. Devendra Deshmukh (Partner), Karan Dattani (Senior Associate), and Anirudh Jakhotia (Senior Associate) handled legal due diligence on real estate matters concerning the Target.

Smriti Yadav (Partner), Reshma Gupte (Principal Associate), and Sunaina Brahma (Senior Associate) were responsible for the legal due diligence on intellectual property matters.

Abhishek Dadoo (Partner) provided advice on listed company requirements for the sale of shares of the Target by Omnitex Industries (India) Limited.

Arindam Ghosh (Partner) and Gaurav Malhotra (Principal Associate) handled SEBI and stock exchange-related aspects of the transaction.

Narendra Dalmia, the Chief Executive of Strata, expressed that Strata has been a leading force in driving the adoption of geosynthetics products in India. He emphasized the successful development and implementation of these products in various infrastructure sectors such as highways, container yards, and more.

“At Strata, we have built a world-class manufacturing platform to cater to global customers with a broad spectrum of innovative products and solutions for an array of site development challenges worldwide. Geosynthetics are new-age construction products, which offer tremendous carbon savings and aid in sustainable construction goals. We have been at the forefront of advancing the adoption of these products in India and have successfully developed them in several infrastructure sectors such as highways and container yards,” Dalmia said.

Gautam Dalmia expressed his excitement regarding the partnership with Infra Market, emphasising the belief that the synergistic combination will enable Strata to capitalise on substantial opportunities within the global geosynthetics sector.

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