ProcMart Charts Path for Expansion with Targeted Acquisitions across India and South East Asia
ProcMart, one of India’s largest online B2B sourcing partners plans for targeted acquisitions in over the next two years. With a strong focus on expanding its portfolio and enhancing its specialised offerings, ProcMart aims to solidify its position as a frontrunner in the industry. As one of India’s largest B2B sourcing partners, ProcMart has consistently demonstrated its commitment to providing businesses with comprehensive sourcing solutions, streamlining procurement processes, and facilitating sustainable growth. Leveraging its extensive network and deep expertise, the company now seeks to embark on a strategic acquisition drive to fuel its expansion plans.
ProcMart’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 50 to 200 Crores. 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 organisations. By integrating backwards within existing categories, ProcMart aims to optimise specialisation and deliver even greater value to its diverse client base.
The target industries for ProcMart’s acquisitions include:
MRO (Maintenance, Repair, and Operations): Strengthening its position in this critical sector will enable ProcMart to provide a wider range of MRO solutions, catering to the evolving needs of businesses across industries
BioFuel: As sustainability becomes increasingly important, ProcMart aims to expand its offerings in the renewable energy sector by acquiring companies specialising in biofuels, thus supporting environmentally conscious initiatives
Packaging: Recognising the significance of effective packaging solutions in various industries, ProcMart intends to acquire companies that offer innovative and eco-friendly packaging solutions, providing clients with a competitive edge
Custom Engineering: With a focus on meeting unique and complex requirements of businesses, ProcMart seeks to acquire organisations that excel in custom engineering, broadening its range of specialised offerings
Utility Services: By acquiring companies in the utility services sector, ProcMart aims to enhance its support for businesses operating in sectors such as energy, water, telecommunications, and more, ensuring their operational efficiency
Non-Specialty Chemicals: ProcMart intends to explore acquisitions in the non-specialty chemicals space to strengthen its presence in this sector, enabling it to cater to a wider range of industries that rely on chemical solutions
Speaking about the strategic acquisitions, Anish Popli, Founder and CEO, ProcMart, expressed great enthusiasm and confidence in the company’s growth trajectory. “ProcMart is poised for rapid growth this year and also the next few years due to its ability to seamlessly integrate cutting-edge technology into its sourcing and procurement processes. These planned acquisitions align with our commitment to provide our clients with a comprehensive sourcing ecosystem. By expanding our capabilities and further specialising our offerings, we aim to strengthen our position as India’s premier online B2B sourcing partner, enabling businesses to thrive in an increasingly competitive marketplace.”
ProcMart is actively exploring potential acquisition targets within the specified industries and regions. The company is committed to conducting thorough due diligence and ensuring seamless integration to deliver enhanced value to its stakeholders. ProcMart has been profitable for the past 4 years with profits increasing by 100% YoY. ProcMart has recently expanded its operations in India by opening seven new offices in different cities, including Indore, Visakhapatnam, Gandhipur, Rudrapur, Nashik, Aurangabad, and Thiruvananthapuram. With this expansion, ProcMart’s operational presence has increased to 20 cities in India, and in addition to that, the company is also present in Malaysia, Vietnam, and Australia. The company is working towards international expansion, strengthening vendor partnerships and upgrading technological and warehousing capabilities.
About ProcMart
ProcMart is one of India’s largest online Business to Business (B2B) sourcing partners for Procurement Teams, and marketplaces that provide supply chain solutions to empower businesses. The Company has raised $10M in series A funding round led by Sixth Sense Ventures. The company’s mission is to provide an ecosystem that connects a variety of stakeholders through an easy-to-use interface, to meet demands across various levels of the supply chain and help procurement for the corporates. Founded in 2015, ProcMart acts as an aggregator, assisting businesses in selecting the best procurement technology solutions for their needs. With an unbeatable combination of knowledge, technology, customer base, and backend support facilities, ProcMart intends to disrupt the procurement and supply chain sectors.
