Taikisha acquires majority stake in Nicomac Clean Rooms

  • Deal
  • August 5, 2020

J. Sagar Associates (JSA) advised Taikisha Ltd. (Taikisha) on its acquisition of a 74% stake in Nicomac Clean Rooms Far East LLP (Nicomac India). Nicomac India is engaged in the design, installation and manufacture of clean room panels including in particular the sale of customized high quality panels to Indian pharmaceutical manufacturers. Taikisha, a Japanese corporation listed on the Tokyo Stock Exchange, is globally engaged in the design and construction of heating, ventilation, air conditioning, and paint finishing systems which include green technology systems, HVAC facilities, cleanroom panels, plumbing and sanitary equipment and treatment systems.

Pursuant to this acquisition, Taikisha proposes to solidify its position in the global market and expand its presence in the Indian market which is expected to grow economically in the medium to long term. This acquisition is expected to strengthen Taikisha’s ability to respond to the growing demand in the Indian clean room construction market by combining Nicomac India’s panel manufacturing and installation technologies with the air conditioning system technologies of Taikisha, primarily in the pharmaceutical manufacturing space, which requires high performance air conditioning systems.

The JSA Team comprised Partner – Vikram Raghani, Principal Associate – Kaustubh Verma and Associates – Parshva Doshi and Zil Shah.

Several attorneys across the Firm’s offices provided assistance on this transaction including Partner – Vaibhav Choukse and Principal Associate, Ela Bali who advised on merger control aspects, Senior Associate, Srinivasan M.D. who advised on real estate matters, and Partner, Rajiv Reddy and Senior Associate, T.G. Rajesh Kumar who advised on local law matters.