KARAM Safety acquires Midas Safety India to strengthen leadership in the PPE industry in India
Delhi…May 3, 2024…KARAM Safety, a leading global PPE player and fall protection solutions provider, is pleased to announce the successful acquisition of Midas Safety India, a prominent player in the hand protection safety products industry. This strategic move marks a significant milestone in KARAM Group's journey towards expanding its presence and enhancing its product offerings.
The acquisition of Midas Safety India strengthens KARAM Group's position as a market leader in the safety industry, combining KARAM's expertise in fall protection and personal protective equipment (PPE) with Midas Safety India's extensive portfolio of hand protection safety products. This synergy will enable KARAM Group to offer customers a comprehensive range of high-quality safety solutions to meet their evolving needs.
The 25-year-old KARAM Group, with a turnover of INR 1000 crore, has acquired the operations of Midas Safety India having a top line of INR 110 crore through a slump deal. Hand protection products are a major revenue contributor to Midas Safety India which was established 16 years ago.
Today, KARAM proudly carries out that tradition in delivering premier products under Midas’s brands, Ninja®, Techtion®, Valpro® and Frontier®. The acquisition will be a good strategic and financial fit for KARAM Group and will open up significant market opportunities in the fast growing PPE market in India.
KARAM Group is growing at a CAGR of 15% year on year and is targeting a revenue of INR 1400 crore with this additional product portfolio by 2025. While commenting on the acquisition, Hemant Sapra, President, Global Sales & Marketing, KARAM Group said, “With KARAM's acquisition of Midas Safety India, two leading PPE industry players have
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