Khaitan & Co Advises Strata Geosystems (India) Private Limited

 and its shareholders, including Omnitex Industries (India) Limited, Strata Systems, Incorporated and Glen Raven Technical Fabrics, LLC in relation to acquisition by Hella Infra Market Private Limited (“Acquirer”) of majority stake in Strata Geosystems (India) Private Limited (“Target”), by primary and secondary investment and acquisition by Target of the US business of Strata Systems, Incorporated. Narendra Dalmia, along with Gautam Dalmia, Strata’s chief development officer, will remain invested in the Target with a minority stake and lead the global operations at Strata. The all-cash deal will be financed by money being raised by the Acquirer from Varde Partners.  

The firm was involved in advising on all legal aspects of the transaction including advising on structuring, conducting legal due diligence on the Target, drafting, negotiating and finalizing the transaction documents (including the share subscription and purchase agreement and the shareholders’ agreement), and various board, corporate and stock exchange related documents. 

 The core team consisted of Niren Patel (Partner), Vidur Sinha (Partner) and Divakar Gupta (Principal Associate) with assistance from the following:
Legal due diligence on the Target in relation to corporate, corporate finance, regulatory, contract, insurance and litigation: Aabha Dixit (Associate) and Zico Bahl (Associate) 

Legal due diligence on the Target in relation to the employment: Deepak Kumar (Partner) and Archika Dudhwewala (Senior Associate) 

Legal due diligence on the Target in relation to real estate: Devendra Deshmukh (Partner), Karan Dattani (Senior Associate) and Anirudh Jakhotia (Senior Associate) 

Legal due diligence on the Target in relation to intellectual property: Smriti Yadav (Partner), Reshma Gupte (Principal Associate) and Sunaina Brahma (Senior Associate) 

Advising in relation to listed company requirements for sale of shares of the Target by the listed shareholder (Omnitex Industries (India) Limited): Abhishek Dadoo (Partner) 

SEBI and stock exchange related aspects for the transaction: Arindam Ghosh (Partner) and Gaurav Malhotra (Principal Associate) 

Quotation by the Client :

 “We have been at the forefront of advancing the adoption of these products (geosynthetics) in India and have successfully developed them in several infrastructure sectors such as highways, container yards, etc,” said Narendra Dalmia, chief executive of Strata.
 
Narendra Dalmia said, “At Strata, we have built a world class manufacturing platform to cater to global customers with a broad spectrum of innovative products and solutions for an array of site development challenges worldwide. Geosynthetics are new-age construction products, which offer tremendous carbon savings and aid in sustainable construction goals. We have been at the forefront of advancing the adoption of these products in India and have successfully developed them in several infrastructure sectors such as highways and container yards.”
 
Gautam Dalmia said, “We are excited about this partnership with Infra.Market and believe the synergistic combination will help Strata to leverage significant opportunities in the geosynthetics sector globally.”