Oct 27, 2022 | Weingarten
Acquisition in India: Effective 20 October 2022, CHG-MERIDIAN acquired OPC Asset Solutions, an asset lifecycle manager based in Mumbai. The acquisition is part of the CHG-MERIDIAN Group’s strategy, focusing on growth, internationalisation and sustainability.
‘Usage over ownership’ as a business model. Like CHG-MERIDIAN, OPC Asset Solutions specialises in asset lifecycle management, including long-term leasing of IT, industrial, and healthcare equipment for B2B customers. In addition to this, the business model of this established, non-captive company is rooted in the sustainable principles of the circular economy, just like CHG-MERIDIAN. Founded in 2005, OPC Asset Solutions employs around 50 people and supports an extensive range of local and international customers in the world’s sixth-largest national economy (2021).
“Current customer requirements, the appeal of the Indian market, and the very strong fit between the two business models means that this transaction offers a great deal of growth potential for us.”
Successful integration into the CHG-MERIDIAN Group is also advantageous for OPC Asset Solutions: “As a new member of the CHG-MERIDIAN Group, we will benefit from a number of synergies and an instant global footprint that will allow us to meet our customers’ needs,” explains R. Venkatesan, Managing Director of OPC Asset Solutions.
This acquisition enables CHG-MERIDIAN to address the growing importance of offering services globally to international customers. Indeed, a large number of the Group’s customers are already present in India. “This is why many of them are asking about lifecycle products as well as usage models for their IT investments also there,” says Dr. Mathias Wagner.
Moreover, the transaction will unlock the growth potential of India, a consistently fast-growing market. Attractive economic growth and increasing levels of digitalisation still hold enormous potential for usage models based on effective asset lifecycle management. The acquisition will therefore contribute to the further growth development of CHG-MERIDIAN.
Now, the Group is present in 29 countries, in addition to India, in Europe, North and South America, Australia and New Zealand.