Clean Edge empowers Nagpur waste to energy business
10 Jan 2023
2 Min Read
CW Team
Lars Enviro , based in Nagpur, realised its value during Covid, when businesses transitioned to online operations and also eliminated jobs. The company started out making waste water treatment plants, but now it also makes a wider range of waste to energy plants like bio-CNG ones.
Lars, who had been there for 25 years, was taken over by Clean Edge's Indian division. Even the physical assets' due diligence was conducted remotely since the entire transaction took place online. Finally, the agreement was inked in April 2022. As a part of the deal the company has received Rs 33 million from Clean Edge. This includes the money paid to buy Lars Enviro's equity from the company's promoters and the money invested after taking over.
Ramesh Daryapurkar, a city businessman who is in charge of Lars Enviro, said the company started out by providing distilleries with waste water treatment plants. However, it soon expanded into other industries and found clients all over the world. Daryapurkar asserts that there were no layoffs during the pandemic.
According to Clean Edge's Vinod Aachi, the business has recently completed two takeovers. The other is a Delhi-based business. Clean Edge learned about Lars Enviro from a mutual friend who had been in negotiations to buy the company but failed to consummate the sale. According to Aachi, this provided sufficient information to complete the due diligence.
He added that the company now anticipates operating biogas and bio CNG plants on a build, own, operate, and transfer (BOOT) basis in addition to catering to businesses in various industries through the Lars manufacturing facility.
Lars Enviro , based in Nagpur, realised its value during Covid, when businesses transitioned to online operations and also eliminated jobs. The company started out making waste water treatment plants, but now it also makes a wider range of waste to energy plants like bio-CNG ones.
Lars, who had been there for 25 years, was taken over by Clean Edge's Indian division. Even the physical assets' due diligence was conducted remotely since the entire transaction took place online. Finally, the agreement was inked in April 2022. As a part of the deal the company has received Rs 33 million from Clean Edge. This includes the money paid to buy Lars Enviro's equity from the company's promoters and the money invested after taking over.
Ramesh Daryapurkar, a city businessman who is in charge of Lars Enviro, said the company started out by providing distilleries with waste water treatment plants. However, it soon expanded into other industries and found clients all over the world. Daryapurkar asserts that there were no layoffs during the pandemic.
According to Clean Edge's Vinod Aachi, the business has recently completed two takeovers. The other is a Delhi-based business. Clean Edge learned about Lars Enviro from a mutual friend who had been in negotiations to buy the company but failed to consummate the sale. According to Aachi, this provided sufficient information to complete the due diligence.
He added that the company now anticipates operating biogas and bio CNG plants on a build, own, operate, and transfer (BOOT) basis in addition to catering to businesses in various industries through the Lars manufacturing facility.
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