The Indian group Waaree acquires 100% of the historic Italian firm Cesare Bonetti Spa.

Cesare Bonetti Spa, founded in 1905 with headquarters in Garbagnate Milanese (near Milano), produces mainly valves and level gauges for different markets, such as Power, (Fossil, Geothermal and Nuclear), Oil & Gas, Chemical, and Industrial in general. The turnover in 2012 has been of about Euro 23 million. Since the early ‘80s, Cesare Bonetti Spa has been present in international markets, opening companies in Germany, Turkey, China and, four years ago, in India.

Waaree, founded in 1989 with headquarters in Mumbai (India), is one of the main “multi-technology” Indian companies. Its major business areas are solar energy, industrial valves, petroleum equipment and process control instrumentation.

The deal will allow both Waaree to be present in Europe in the important market of industrial valves market and Cesare Bonetti to go on with its business with the support of a primary Asiatic company.

Giuseppe Dalmasso, CEO of Cesare Bonetti Spa, has commented: “The merge of Cesare Bonetti with Waaree, already partner of Bonetti in an Indian joint-venture and with a significant share in a market that has grown exponentially in the recent years, will strength the company fostering the expansion on global markets.”

Hitesh Doshi, President of Waaree, has said: “This acquisition will give more value to customer. Recently opened world class Indian manufacturing facility and our commitment to provide the quality products at competitive price will enhance the customer return on investment.”

K Finance, partner of Clairfield International, has been advisor to Cesare Bonetti in the sell. Studio Pedersoli e Associati has been the legal advisor.

The law firm Orrick, Herrington & Sutcliffe have advised Waaree.

“This deal ‑ says Giuseppe Renato Grasso, President of K Finance ‑ shows that when the company’s assets are good and the managers have credibility, the international groups are attracted by Italian firms”.