The Deal size/Average Ticket size would be between Rs 50 to 200 crore and the primary focus will be on B2B companies within India and South East Asia such as Indonesia, Vietnam and Thailand
New Delhi: Online B2B sourcing partner ProcMart plans for targeted acquisitions over the next two years. The company is focusing on expanding its portfolio and enhancing its specialized offerings, while aiming at solidifying its position in the industry, the company announced in a press release on Tuesday.
ProcMart works towards providing businesses with comprehensive sourcing solutions, streamlining procurement processes, and facilitating sustainable growth.
According to the release, the sourcing partner’s acquisition strategy will revolve around several key criteria, ensuring alignment with the company’s vision and enhancing its existing capabilities.
The Deal size/Average Ticket size would be between Rs 50 to 200 crore and the primary focus will be on B2B companies within India and South East Asia such as Indonesia, Vietnam and Thailand, with a strong emphasis on manufacturing and distribution organizations, ProcMart further added.
With this expansion plan, it aims to optimize specialization and deliver greater value to its diverse client base.
ProcMart’s acquisitions include MRO (maintenance, repair, and operations), bio-fuel, packaging, custom engineering, utility services and non-specialty chemicals.
“These planned acquisitions align with our commitment to provide our clients with a comprehensive sourcing ecosystem. By expanding our capabilities and further specializing our offerings, we aim to strengthen our position as India’s premier online B2B sourcing partner,” Anish Popli, founder and chief executive officer, ProcMart said.
ProcMart claims to have been profitable for the past four years with profits increasing by 100% Year-on-Year. The company recently expanded its operations in India by opening seven new offices across the country, including Indore, Visakhapatnam, Gandhipur, Rudrapur, Nashik, Aurangabad, and Thiruvananthapuram.
ProcMart is present in 20 cities in India. It is also present in Malaysia, Vietnam, and Australia. It is working towards international expansion, strengthening vendor partnerships and upgrading technological and warehousing capabilities.
Founded in 2015, ProcMart is a Business to Business (B2B) sourcing partner for procurement teams, and marketplaces that provide supply chain solutions to empower businesses. The Company raised $10 million in series A funding round led by Sixth Sense Ventures. It acts as an aggregator, assisting businesses in selecting suitable procurement technology solutions for their needs.
