Hyderabad-based Raghu Vamsi Group acquires British precision machining company PMC Group

UK Deputy High Commissioner Gareth Wynn Owen, Telangana Special Secretary for IT and Industries Jayesh Ranjan and others at a function organized by Raghu Vamsi Group to celebrate the acquisition of PMC Group. | Photo Credit: Editing

Precision engineering components and small parts manufacturer Raghu Vamsi The Hyderabad-based group has acquired British precision machining company PMC Group which specializes in components for the oil and gas industry.

The acquisition will enhance the Raghu Vamsi Group, which specializes in the aerospace and defense industry and counts among its clients many global OEMs, to develop its global capabilities and expand capabilities, said the Hyderabad-based organization through the acquisition of PMC Group from the UK’s Pressure. Technology.

Although Raghu Vamsi Group did not provide financial information, the acquisition of control in September by Pressure Technologies in the sale of PT Precision Machined Components (PMC) to Raghu Vamsi Machine Tools indicated that the acquisition of the initial business value of British Pounds 6.2 million may be strong. rising to 7.7 million British Pounds depending on future operating conditions.

The business value includes a total debt of 3.4 million British Pounds, resulting in an initial equity value of £2.8 million. Confirming the content of the entry, sources said that Raghu Vamsi has planned investment plans, beyond the acquisition, to expand and expand PMC’s operations as it looks at the big pie of the $1 billion market.

PMC specializes in specialized components for use in critical subsea environments and land flow control. It serves oil and gas OEM customers worldwide through its Al-Met, Roota Engineering and Martract operations in the UK, according to Pressure Technologies.

In a statement to mark the acquisition, Raghu Vamsi Group said its state-of-the-art manufacturing facilities in Hyderabad and PMC’s precision machining expertise will enhance greater synergy in product innovation and cater to a wider segment of high-end manufacturing. precision products, delivers advanced engineering solutions for the oil and gas industry and beyond. The combined capabilities will provide a cost-effective and high-precision solution for customers.

“Our portfolio will also expand beyond our traditional aerospace and defense to include the oil and gas sectors and enter the growing European markets,” said managing director Vamsi Vikas.

PMC counts oil and gas OEMs such as SLB, Baker Hughes, Halliburton, Expro, Tech FMC and One Sub Sea among its clients and employs approximately 100 staff. It has a turnover of ₹ 180 crore with the capacity to manufacture complex parts and assemblies in nickel alloys up to 6 meters long.

UK Deputy High Commissioner Gareth Wynn Owen, Telangana special secretary for IT and industries Jayesh Ranjan, director Aerospace and Defense Praveen PA, C&MD of MIDHANI SK Jha and Scientist-G of ARCI L .Rama Krishna participated in the program.

Mr. Owen said the acquisition is a good example of growing cooperation between the UK and India in advanced manufacturing and technology. Mr. Ranjan said that it is really encouraging to see an MSME in Hyderabad (Raghu Vamsi Group) transforming into an MNC through the acquisition of PMC which traces its roots back to 100 years.