Sintex Industries, a market leader in the plastic and textiles business segments, has acquired 90% stake in Geiger Technik Gmbh (Garmisch-Partenkirchen, Germany) for Euro 35.6 million.

However, Geiger family will continue to hold the remaining 10% stake in the company.

The acquisition was carried out through company’s wholly owned subsidiary Sintex Holdings B V. Netherlands.

Established in 1960 Geiger is a family owned SME. The company makes precision plastic parts including fuel tank components, and is a market leader in coolant and brake fluid reservoirs.

The company currently has four manufacturing plants: two in Bavarian region, one in Tambach in eastern Germany and one in Poland.

The latest acquisition will help Sintex Industries in enhancing its presence in the European market.

Yes Bank and Germany-based DZ Bank acted as strategic and financial advisors to this transaction.