Caldwell Continues to Expand with Indian AcquisitionApril 12th, 2019 by Editor
Through a recent acquisition of what officials describe as a key Indian distributor, Rochester, N.Y.-based hardware manufacturer Caldwell is expanding its global reach. Mumbai-based Archintex already serves as a Cotswold hardware supplier to businesses across the Indian subcontinent, but the firm now will be part of a newly-formed Caldwell South-East Asia. Cotswold is a Caldwell company.
The acquisition marks the latest phase in Caldwell’s plans for growth in the region, officials say.
“We want to be part of one of the most dynamic economies in the world,” explains Eric Mertz, Caldwell’s CEO. The market in India, he says, is set to grow by 7.3% this year and 7.5% the next—faster, he says, than China. By 2050, the country is expected to overtake America as the second-biggest economic power, he suggests.
“And most excitingly for us, much of that growth will come from construction,” Mertz says. “The government’s Housing for All initiative will see hundreds of thousands of homes built in the next few years. That’s a huge opportunity, and by combining Archintex’s unmatched market knowledge with our global expertise, we’re confident we’ve got a formula for rapid growth.”
Caldwell’s plan includes further investment into becoming a technology hub, helping the company develop partners across Asia.
“We’re hugely excited to have the Archintex team join the Caldwell family. Together, we can provide even more seamless distribution of Cotswold hardware, and further expand the range of products we can provide,” says Tim Ferkin, market development director. “That’s great for us, and it’s great for thousands of Indian fenestration businesses, too. We can’t wait to get started.”