Toshiba to join hands with India Value Fund in Water and Waste Water Management Business
Jan 16, 2014
Toshiba acquires 26 % strategic stake in UEM India. Founders and IVFA continue to build the business.
Toshiba Corporation ("Toshiba") has agreed to acquire a strategic stake in UEM India Private Limited. UEM was founded by Krishan Kshetry, who has decades of international experience in waste water management. India Value Fund Advisors (IVFA) acquired a majority stake in UEM in July 2010. Following the investment, IVFA will continue to own a majority stake in the venture. Toshiba's entire investment will be infused into the business to drive future growth.
UEM Group is an international multi-disciplinary environmental services company that specializes in providing turnkey services in water and wastewater collection, treatment and disposal facilities. UEM Group provides complete, single-source services from engineering and design to construction and installation of water, waste-water and domestic waste treatment facilities. Headquartered in Noida, India, UEM has executed projects in over 30 countries across India, South East Asia, North America, Central America and Africa, and has annual revenues of ~US$70 million.
Toshiba has been Japan's leading manufacturer of electrical system for water supply and sewerage facilities for over 40 years. The company has also expanded the business into overseas markets, including China and Indonesia and has an R&D facility in Singapore. Toshiba recognizes India as a promising country for developing water-related business in the future, and has been searching for a strategic partner.
This collaboration will enable UEM to grow to greater heights, as it gains access to new geographies and new business segments while retaining its India cost advantage. Along with the agreement, an executive officer from Toshiba will be joining the Company's Board.
Naohiro Noro, Vice President, Water & Environmental Systems Division, Toshiba Corporation said, "We are delighted to partner with IVFA and Mr. Kshetry, who have established themselves as highly respected players in the water treatment business. This is a strategic growth area for Toshiba and we will bring our expertise and global access to the company, and also learn from UEM's vast experience in delivering complex, turn-key projects around the world. I look forward to deepening our relationship with UEM, IVFA and Krishan Kshetry over the coming years."
Krishan Kshetry, Promoter, UEM said, "The formation of this collaboration is a seminal moment in UEM's journey. We are delighted to work with Toshiba – and believe that this partnership will provide us a bigger canvas to work on. India Value Fund has been a most supportive partner who has helped us scale the business and took the lead in re-organizing and professionalizing the business. Now we will have support of both partners (Toshiba and IVFA) to grow the business. The water sector has tremendous opportunities and we have the right tools and partners to achieve our vision."
Mr. Vishal Nevatia, Managing Partner, IVFA said "It has been an exciting journey for IVFA with UEM and in helping Mr. Krishan Kshetry achieve his vision. The Company has outperformed its peers in the infrastructure sector and continues to have a very robust order book. Our team has been intensely involved with the Company over the last few years and we have built a team and business that we are extremely proud of. We welcome Toshiba into our partnership, and believe it will be a great partner for UEM and help the Company meet its aspirations."
IVFA specializes in transforming mid-sized profitable businesses into industry leading companies. IVFA manages over US$1.2 billion for investment in India.
More News and Articles
Aug 28, 2024
News
ITpipes Secures $20M to Transform Water Infrastructure Management
ITpipes announced it has secured $20 million in equity financing from Trilogy Search Partners and Miramar Equity Partners.
Known for its trusted and user-friendly platform, ITpipes …
Aug 26, 2024
News
Professor Dr.-Ing. Dietrich Stein
With deep sadness we announce the loss of our founder and partner Prof Dr Dietrich Stein at the age of 85.
Engineers around the globe are thankful for his dedication to the inventions in the fields of sewers, …
Aug 26, 2024
News
PPI Releases New Installation Guide for PE4710 Pipe
PPI’s MAB-11-2024 Covers HDPE Water Pipelines Up to 60-in. Diameter and 10,000-ft Long Pulls
Developed by the Municipal Advisory Board (MAB) – and published with the help of the members of the …
Aug 23, 2024
News
Faster wide-scale leak detection now within reach
Mass deployment of connected leak loggers is being made possible by the latest technology, writes Tony Gwynne, global leakage solutions director, Ovarro
Water companies in England and Wales are …
Aug 21, 2024
News
Kraken awakens customer service potential in water
The innovative customer service platform Kraken has made a successful transfer from energy to water. Ahead of their presentation at UKWIR’s annual conference, Portsmouth Water chief executive …
Aug 19, 2024
News
Predicting the toxicity of chemicals with AI
Researchers at Eawag and the Swiss Data Science Center have trained AI algorithms with a comprehensive ecotoxicological dataset. Now their machine learning models can predict how toxic chemicals are …
Aug 16, 2024
News
Goodbye water loss: Trenchless pipe renewal in Brazil
Pipe renewal in Brazil
How do you stop water loss through leaks in old pipe systems without major environmental impacts and restrictions? The answer: with trenchless technology, or more precisely …
Aug 14, 2024
Article
Impact of high-temperature heat storage on groundwater
In a recently launched project, the aquatic research institute Eawag is investigating how the use of borehole thermal energy storage (BTES) affects the surrounding soil, the groundwater …
Aug 12, 2024
News
Watercare completes East Coast Bays sewer link
Watercare has successfully finished the final connection on the East Coast Bays link sewer at Windsor Park in New Zealand.
Much of the East Coast Bays sewer link was installed using horizontal directional …
Aug 09, 2024
Article
Innovative water solutions for sustainable cities
Cities need to become more sustainable and use their water resources more efficiently. Managing water in local small-scale cycles is one possible solution. A new white paper by Eawag, the University …
Aug 07, 2024
Article
How digital technologies contribute to universal drinking water
Digital water technologies have an important role in ensuring universal access to safe drinking water by 2030, that is according to a new report from the World Health Organisation. …
Aug 05, 2024
News
Knowledge transfer on sustainable water infrastructure in India
India’s fast-growing cities need an efficient infrastructure for water supply and wastewater disposal. A research cooperation, is therefore supporting the development of a sustainable …
Contact
Toshiba Corporation Social Infrastructure Systems Company
72-34 Horikawa-cho, Saiwai-ku Kawasaki-shi
212-8585 Kanagawa
Japan