Germany based DEG acquires a minority stake in India’s Ludhiana based Deepak Fasteners Ltd

The KfW Bankengruppe, based in Germany and considered one of Europe’s foremost development finance institutions announced that DEG, one of its member firm’s has acquired a minority stake in Deepak Fasteners Ltd. Based in Ludhiana, it is the largest manufacturer of specialty industrial fasteners and is promoted by the Kalra family.

DFL will utilize the fund for its expansion. Deepak’s products support a wide range of high growth key infrastructure industries and we believe the company is in a good position to capitalize on the opportunities offered by the next round of growth in India and elsewhere. Amit Goyal, Investment Manager at the Indian DEG’s office said DEG’s investment would generate additional employment opportunities and would help the Indian Company establish itself as a global player.

DFL owns the Unbrako brand of fastners, which it acquired in 2008 from SPS Technologies, a subsidiary of PCC group, USA, along with a manufacturing facility in Shannon, Ireland. Unbrako is a well-known brand in fasteners and is used in F1 racing. Unbrako fasteners have been used in Bandra-Worli Sea Link project, Delhi Metro and Mumbai International Airport.

Deepak Fasteners Limited is the Largest Industrial Fasteners Manufacturer in India and has been in business for the last five decades. It is currently the Worldwide Owner of UNBRAKO, as earlier stated and is committed to quality and delivery at the best possible prices. Since its establishment, Deepak Fasteners Limited has proactively implemented global strategies to create an internationally integrated business structure.

With Global Infrastructure in 5 countries covering 4 continents, Deepak Fasteners has already made its mark in the International Market and is still growing to reach the lofty heights and make a mark in the Fasteners World.

DEG, member of KfW Bankengruppe (KfW banking group), finances investments of private companies in developing and transition countries. As one of Europe’s largest development finance institutions, it promotes private business structures to contribute to sustainable growth and improved living conditions.

Established more than four decades ago, the firm is based on an idea of the first German Minister for Development Aid, Walter Scheel, and the then state premier of Schleswig-Holstein, Kai-Uwe von Hassel, with DEG’s intention being to raise people’s living standards in its partner countries. The firm undertakes this through supporting promising entrepreneurial initiative. For this purpose, it almost exclusively uses its own resources rather than public budget funds.

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