Wazir acted as the exclusive transaction advisor to Matrix Clothing in the strategic acquisition of its subsidiary, Matrix Design & Industries Pvt. Ltd., by Gokaldas Exports Limited. The definitive agreement, valued at an enterprise value of ₹489 crore, marks a significant development in the Indian apparel manufacturing industry.
This acquisition allows Gokaldas Exports to access Matrix’s strengths in the knitwear segment, expand its customer base, and gain greater access to European and UK markets. Additionally, it provides geographical diversification and potential for low-cost capacity expansion for Gokaldas Exports.
Mr. Gautam Nair, Chairman, Matrix Clothing said “We are delighted to partner with Gokaldas Exports Limited, a company I have long admired for their professional way of working and the terrific strides they have made in recent years. We believe our coming together will add significant synergies to the operations by leveraging our respective product categories and inherent strengths. And we truly appreciate the involvement of Harminder Sahni and his team at Wazir Advisors who initiated the first contact and brought the deal to fruition in record time.”
Mr. Harminder Sahni, Founder, Wazir Advisors, expressed his enthusiasm for the current trajectory of the Indian apparel manufacturing sector, stating, “The apparel manufacturing sector in India is all set to grow tremendously to serve international as well as domestic markets. With the continuing growth of the ready-made branded apparel segment in India, along with the realignment of global supply chains, supported by Government initiatives, we expect numerous companies to achieve revenues exceeding 5,000 crores in the next 10 years.”
He further emphasized, “Accelerated growth through acquisitions is the first step towards scale, but very soon it will be through fresh investments in large capacities. We, at Wazir Advisors, are excited to be part of this ‘Amrit Kaal’ of the apparel sector. Our role in facilitating the acquisition between Matrix Clothing and Gokaldas Exports Limited is a testament to our commitment to driving strategic growth and fostering success within the industry.”
Wazir Advisors’ expertise in deal structuring, market analysis, and negotiation played a crucial role in securing a favourable outcome for Matrix Clothing in this transaction. The firm’s deep understanding of the Indian apparel industry and strong relationships with key players enabled it to navigate the complexities of the deal process and achieve a successful outcome for its client.
