BANGALORE, June 22, 2018 /PRNewswire/ --
Indian and Silicon Valley Companies Merge to Advance Technological Innovation in Off-site Construction Industry
Leading Indian offsite infrastructure manufacturing company, KEF Infra, today announced a strategic merger with Katerra, the Menlo Park US-based technology company, revolutionizing the design and construction industries. The partnership will jointly expand their geographic reach, manufacturing capacity, and market expertise. The merged company already has more than $3.7 billion in bookings at this time across North America and India.
Announcing the merger, Mr. Faizal Kottikollon, Founder and Chairman of KEF Infra, shared, "I am very excited by the prospects of this strategic alliance. We look forward to breaking new ground with a like-minded team." Voicing similar thoughts, Mr Michael Marks, Chairman and Co-founder of Katerra, said, "We are thrilled to merge with KEF Infra, a company that is truly a disrupter. It's incredible to discover a team so aligned with our values and vision."
Katerra was co-founded by Michael Marks who serves as its Chairman and CEO. It operates globally, with two factories and 2,000 employees worldwide with a turnover of USD 1.1 Billion. Katerra was most recently valued at USD 3 Billion, and investors include Softbank, Foxconn, and Canada Pension Plan Investment Board.
Both companies employ a vertically integrated model, offering end-to-end building services enhanced by offsite manufacturing and enterprise technology. This partnership will now help build KEF Katerra's in-house execution team which will reduce our on-site challenges on a project. Katerra is a pioneer in multi-family housing design, build and delivery. There is a tremendous potential for replicating their model to other regions of India, which will be key geographies for the KEF Katerra expansion. In addition to addressing housing needs, KEF Katerra will be actively engaged in building critical infrastructure such as hospitals and schools across India.
Founded in 2014, KEF Infra utilizes robotics and automation in its advanced manufacturing operations to deliver high quality building projects more quickly and efficiently. The industry-leading expert in pre-cast concrete for the Indian markets, KEF Infra has 1,400 employees and factories in Krishnagiri and Lucknow in India. The merger will enable Katerra to bring world-class pre-cast concrete technologies to the U.S. market, greatly expanding design and materials options for its American clientele. At the same time, the merger will result in a more robust global supply chain and elevated manufacturing processes in existing KEF markets.
Katerra currently employs more than 2,000 people with operational factories in Greater Phoenix, Arizona, Glendale, Arizona and Shanghai, China. Once the merger is complete in Q3 2018, the company will have over 3,400 employees, with a global footprint of 20 locations in the United States, China, India and Mexico.
Katerra is a technology company optimizing every aspect of building development, design and construction. With leaders from the most ground breaking technology, design, manufacturing and construction companies, Katerra transforms how buildings and spaces come to life. Founded in 2015, Katerra has a growing number of domestic and international offices, factories and building projects. For more information, visit http://www.katerra.com.
About KEF Infra
KEF Infrastructure India Pvt. Ltd. or KEF Infra, a wholly owned entity of KEF Holdings, was founded in India in 2014 by successful entrepreneurs Faizal Kottikollon and Shabana Faizal, who wanted to bring state-of-the-art infrastructure creation to India. The company is a technology-driven infrastructure manufacturing company that is dedicated to transforming the way that buildings and basic services are created and delivered in India by revolutionizing production, using world-class technology.
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SOURCE KEF Infra-Katerra