“Even the most resilient of people and teams have found the last year one of the most challenging in their careers to date. Despite the difficulties faced in the fallout of the COVID pandemic, we once again adapted our businesses, aligning our teams to the new circumstances and together tackling the obstacles in our path. The sheer grit of our IMAP dealmakers and teams across our global partnership shone through and IMAP closed 218 transactions in 2020, only a slight decrease from our all-time high the previous year.
To celebrate this success, and in recognition of the dedication, diligence, and expertise of our IMAP colleagues, I am pleased to announce the winners of our IMAP 2020 Awards for Excellence and sharewith you some of last year’s key deals and more importantly, the dealmakers and teams behind them.” Jurgis V. Oniunas (IMAP Chairman)
IMAP Awards for Transactions above $50 mn : IMAP India for Syrma Technologies & SGS Tekniks transaction
IMAP India advised Syrma Technology on both its cash cum stock merger with SGS Tekniks and raising PE capital for the cash purchase of a part stake in SGS Tekniks ahead of the merger. The combined business unit creates a platform with 4500+ employees, 110+ customers and 8 production facilities across India. Both companies have a considerable track record of growth and the combined business is expected to emerge as the largest EMS provider for the Industrial sector in India. PE fund Global Environment Fund enabled Syrma to acquire a strategic stake in SGS Tekniks ahead of the merger process. Established in 2005, Syrma provides turnkey electronics contract manufacturing and innovative products in RFID and magnetics, achieving revenues of $55 million in FY 2019-20.