German Company Remmers To Acquire 50 Per Cent Stake In Pune Based Teknovace

Pune : Pune based speciality coatings company Teknovace announced strategic global partnership with Remmers Gruppe SE, a German speciality construction chemicals and wood coatings company. As part of partnership, Remmers plan to make a Rs 300 crore strategic equity investment in Teknovace to acquire a 50.01 per cent stake in two tranches.

Teknovace is a premium wood coatings processor and operates two manufacturing facilities with a current capacity of 6,000 tonnes per annum.

Remmers, founded in 1949, operates across more than 30 countries and has over 75 years of global expertise in advanced coatings, construction chemicals, and material science.

Under the partnership, Remmers will play an active role in strategy, technology transfer, and global market integration, working closely with Teknovace over the next decade.

The capital infusion will be deployed to significantly expand Teknovace’s manufacturing and technology capabilities. This includes scaling wood coatings production capacity from 6,000 tonnes to 60,000 tonnes per annum, setting up an integrated UV coatings manufacturing facility, establishing an in-house resin manufacturing unit, and building a greenfield construction chemicals factory in India. The partnership also envisages the creation of a global R&D centre in India, combining Remmers’ advanced technology platforms with Teknovace’s R&D-led manufacturing expertise.

"Beyond domestic growth, the alliance is designed to position India as a global manufacturing and export hub for advanced coatings. Teknovace will directly supply markets across Asia-Pacific, the Middle East, and Africa, while also acting as a manufacturing and sourcing partner for select global markets through Remmers’ international network," said a joint statement.

Commenting on the partnership, Pankaj Singh, Managing Director, Teknovace, said, “This partnership with Remmers is not just about capital; it is about building a deeply integrated, technology-led manufacturing ecosystem in India. Despite India’s rich raw material base, the country has historically been a net importer of high-performance wood coatings. Together with Remmers, we aim to change that equation by building global-scale manufacturing, backward-integrated capabilities, and export-ready platforms to position India as a serious player in the global coatings value chain,” Pankaj Singh, MD, Teknovace, said.

Dirk Sieverding, chairman, CEO & Co-owner, Remmers Group, said, “India is a strategic market for Remmers’ long-term global growth. This partnership reflects our confidence in India as a global manufacturing hub and our shared ambition to build sustainable, high-performance coatings solutions for international markets.”

Bathiya Advisors acted as the exclusive strategic, financial and deal advisor to Teknovace and the selling shareholders. PwC and JSA acted as the financial and legal advisors to Remmers, respectively.