Indian expansion
Caldwell has acquired Indian distributor Mumbai-based Archintex.
The company, which already supplies Cotswold hardware to businesses across the Indian subcontinent, will become part of newly formed Caldwell South-East Asia.
CEO Eric Mertz said: “We want to be part of one of the most dynamic economies in the world. India is set to grow 7.3% this year and 7.5% the next – that’s faster than China.
“By 2050, it’s expected to overtake America as the second-biggest economic power on Earth.
“And most excitingly for us, much of that growth will come from construction. 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.”
Further investment by Caldwell will see it become a key technology hub helping the company develop partners across Asia.
Market development director Tim Ferkin said: “Together, we can provide even more seamless distribution of Cotswold hardware, and further expand the range of products we can provide.
“That’s great for us, and it’s great for thousands of Indian fenestration businesses, too. We can’t wait to get started.”