True North sells RDC Concrete to construction firm for unknown sum
Infra.Market, a construction solutions company, said today that it has acquired RDC Concrete from True North, a home-grown private equity firm. RDC is the largest independent ready mixed concrete company in the country. True North held a majority equity stake in the company through its initial investment in 2005.
However, neither Infra.Market nor True North disclosed the deal value.
RDC Concrete manufactures and supplies Ready Mix Concrete (RMC). It now has 52 plants across the country and is expected to clock annual revenue of over 1000 crores in FY22.
Anil Banchhor, the current Managing Director & CEO of RDC Concrete, will continue be at the helm of RDC.
Aaditya Sharda, co -founder of Infra.Market said, “We at Infra.Market currently have over 40 manufacturing units tied up with us for concrete manufacturing. RDC brings on the table a category experience of over a decade and 52 exclusive manufacturing tie ups across India. This catapults us into a category leadership position. As a combination, we are now probably India’s largest organised player in the concrete Industry. We are extremely delighted to welcome RDC to the Infra.Market family and hope to become a category defining company in the years to come.”
Ashish Bhargava, Partner, True North, said, “RDC is a great example of True Norths “Buy and Build” philosophy. We partnered with a high-quality management team and together built one of the most admired and largest independent RMC companies in India. RDC through its customer-focused approach has consistently given industry leading operational and financial performance. With a deep focus on execution excellence and innovation, the company has constantly attempted to achieve global quality standards.”
Anil Banchhor, Managing Director & CEO of RDC said, “We have over the years successfully built a very strong brand in the concrete industry and established a business that is now “built to last”. Partnering with the Infra.Market and plugging in to the ecosystem they have built will enable us to further strengthen our offerings and continue us on our path to become the category leader in the concrete industry. We are happy to partner with Infra.Market to fuel our next phase of growth.”
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