Thermax has signed an agreement with TSA Process Equipments to acquire 100 percent stake in the company in multiple tranches. This would be a strategic addition to Thermax’s portfolio to serve high-purity water requirements in sectors such as pharma, biopharma and food & beverages.

The company has announced the acquisition of 51 percent stake in TSA Process Equipments for Rs 71.14 crore, and will acquire the remaining 49 percent stake over a period of two years, subject to completion of certain conditions.

With this, the company aims to augment its water division's capabilities to provide customers with end-to-end solutions for purified water, ultra-pure water, and water for injectables in several industries.TSA’s expertise in the segment will complement Thermax’s know-how as an energy and environment solutions provider and help to meet a wider range of requirements.