Thermax, a leading provider of energy and environment solutions and a trusted partner in energy transition has signed an agreement to acquire a 100% stake (approximately Rs. 72 crore) in Buildtech Products India Private Limited, a company manufacturing admixtures, accelerators and capsules used in tunnels, infrastructure and railway projects. This partnership solidifies Thermax’s presence in the construction chemicals sector.

The Indian construction chemicals market was valued at US$ 3.76 Billion in 2024 and is expected to reach US$ 5.17 Billion by 2030 with a CAGR of 5.64%. Thermax actively contributes to the growth of the Indian construction chemicals sector with its expertise in the field of chemicals offering an extensive range of products for infrastructure, industrial, and commercial usage. The acquisition of Buildtech will be completed in due course.

Speaking on the partnership, Ashish Bhandari, MD & CEO, Thermax, said, “Chemicals has been a key area of investment for Thermax. Buildtech’s products have created a niche in the sector with specialised offerings in the field of major civil repairs, waterproofing, plumbing, painting and allied works of multistoried buildings and structures. Buildtech’s strong reputation and innovative product portfolio, combined with Thermax’s expertise and commitment to sustainable growth, will enable us to deliver enhanced value to our customers. This strategic acquisition further reinforces our commitment to support India’s infrastructure development with advanced solutions that meet the industry’s evolving needs."