The Indian Waaree Group acquires 100 % of the historic Italian company Cesare Bonetti Spa.
Giuseppe Dalmasso, Sole Director of Cesare Bonetti Spa, commented, "The union of Cesare Bonetti with the Waaree Group, already Bonetti's partner in an Indian joint venture and solidly rooted in that market that has recorded excellent growth figures in recent years, will enable the strengthening of the company by fostering its further expansion into global markets."
Hitesh Doshi, president of Waaree, said, "This acquisition will provide more value to our customers. The recently opened Indian manufacturing facility and our commitment to providing quality products at competitive prices will enhance customer satisfaction."
K Finance, a partner of Clairfield International, assisted Cesare Bonetti in the sale. The legal side of the transaction was handled by Studio Pedersoli e Associati. The law firm Orrick, Herrington & Sutcliffe assisted the Waaree Group.
"This transaction," comments Giuseppe Renato Grasso, president of K Finance, "demonstrates that when company assets are valuable and managers have credibility, international groups are attracted to Italian companies."

Cesare Bonetti Spa, founded in 1905 and headquartered in Garbagnate Milanese, Milan, Italy, mainly manufactures valves and level indicators for applications in the thermoelectric, fossil and nuclear power and oil & gas and industrial sectors in general. Its 2012 turnover was about 23 million euros. Since the early 1980s, Cesare Bonetti has operated in international markets, first opening companies in Germany, Turkey, China and, four years ago, in India.

The Waaree Group, founded in 1989 and based in Mumbai, India, is one of India's leading "multi-technology" companies. Its main business areas are photovoltaic panels, industrial valves, petroleum equipment, and process control instruments. The transaction will allow the Waaree Group to be present in Europe in the important valve market and Cesare Bonetti to continue its business with the support of a major Asian company.