Caparo Group Chairman Swaraj Paul has acquisition plans in India and the United Kingdom
London:
London-based entrepreneur Lord Swaraj Paul has revealed acquisition plans in the United Kingdom (UK) and India in the coming months, once the “very dark times” of the Covid-19 boom related to the Omron version are over.
The 90-year-old founder of the Caparo Group said this week that his team has identified some potential acquisitions that will be finalized after a site visit as the Covid-hit journey eases.
The focus will be on the company’s strength in manufacturing, with businesses under consideration in the steel products segment.
“In India, we already have a presence in 20 states, so wherever we find a favorable steel landscape, there will be new acquisitions,” Paul said.
“In the UK, we are seeing new businesses related to the manufacturing of industrial goods. We have expertise in steel products for cars, aircraft, railways and I always aim to do what you know best.”
When asked about the time frame for these new purchases, the House of Lords colleague and billionaire businessman said, “These are very dark times. We have had to close offices again amid the latest surge in Covid cases. So , it is about waiting and seeing, but not constantly watching.”
Mr Paul, one of the richest men in the UK’s annual “Sunday Times Rich List” with an estimated fortune of GBP 2 billion, established his first business in Huntingdon, England, in 1968.
Following the steel industry crisis nearly six years ago, Caparo Group’s operations in the West Midlands were sold after it went into administration. Most of his company’s operations are now in the US, India, Canada and the United Arab Emirates.
For the new year, they have once again turned their attention to the UK and are ideally looking for a construction business within 150 miles of London.
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