KEF Infra announced on Friday that it was merging with Softbank-backed Katerra, a U.S.-based company which designs and builds homes.
The merger, expected to be completed by the third quarter of this year, will expand KEF Katerra's geographic reach, manufacturing capacity and market expertise, according to a joint statement.
The merged company already has more than $3.7 billion in bookings across North America and India.
Katerra was co-founded by Michael Marks who is the chairman and CEO. It operates globally. It has 2 factories and 2,000 employees worldwide with a turnover of $1.1 billion. Katerra was most recently valued at $3 billion, and its investors include Softbank, Foxconn, and Canada Pension Plan Investment Board.
Both companies offer end-to-end building services aided by offsite manufacturing and enterprise technology.
The partnership will now help build KEF Katerra’s in-house execution team, which will reduce on-site challenges on a project, according to the statement.
The merger will enable Katerra bring world-class pre-cast concrete technologies to the U.S. market, greatly expanding design and materials options for its American clientile.
At the same time, the merger will result in a robust global supply chain and elevated manufacturing processes in existing KEF markets.
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 has 1,400 employees and factories in Krishnagiri and Lucknow.
