CHG-MERIDIAN enters the Indian market with acquisition of OPC Asset Solutions
- Acquisition is part of CHG-MERIDIAN's international growth strategy
- OPC Asset Solutions provides direct access to the fast-growing Indian market
- A business model based on the circular economy and a shared technology focus offer a great strategic fit for both companies
WEINGARTEN, Germany, Oct. 27, 2022 /PRNewswire/ -- Acquisition in India: With effect from October 20, 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 with its focus on growth, internationalization and sustainability.
'Usage over ownership' as a business model. Like CHG-MERIDIAN, OPC Asset Solutions specializes in asset lifecycle management including long-term leasing of IT, industrial, and healthcare equipment for B2B customers. In addition to this, also like CHG-MERIDIAN, the business model of this established, non-captive company is rooted in the sustainable principles of the circular economy. Founded in 2005, OPC Asset Solutions employs around 50 people and supports a large 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," says Dr. Mathias Wagner, Chairman of the Board of Management of the CHG-MERIDIAN Group. Successful integration into the CHG-MERIDIAN Group is also advantageous for OPC Asset Solutions: "As a new member of 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.
Growth driven by international customers
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 digitalization 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.
The CHG-MERIDIAN Group
The CHG-MERIDIAN Group is the leading international technology management and financing company for IT, industrial technology, and healthcare technology. Nearly 1,200 employees across 28 countries manage a technology portfolio worth €7.8 billion (2021). CHG-MERIDIAN finances and manages international technology projects in a holistic, digital, and sustainable manner. Acting independently of banks and manufacturers, it supplies the necessary assets to its customers, which include large corporations, small and medium-sized enterprises, hospitals, and the public sector. The Company has been managing its customers' technology investments for more than 40 years, covering the entire lifecycle from procurement and use to data erasure, refurbishing, and remarketing. The entire business model has been based on the principles of the circular economy since 1979. CHG-MERIDIAN has been carbon-neutral since 2021. To achieve this, it avoids, reduces, or offsets all CO₂ emissions generated by its business activities. The Company's headquarters are in Weingarten, Germany.
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