On January 31, 2023, Aimia Inc. has finalized agreements to acquire all shares of Tufropes Pvt Ltd., including specific operations from India Nets, for $249.6 million, pending regular adjustments and approvals. This transaction, anticipated to close by the end of Q1 2023, will see Paladin Private Equity LLC partner with Aimia. Established in 1992, Tufropes specializes in synthetic fiber ropes and netting solutions primarily for the aquaculture and maritime sectors. With aquaculture providing over half of global fish consumed, Tufropes' large production capacity, extensive product range, and global sales presence in 70+ countries position it for further market capture. For the fiscal year ending March 31, 2023, Tufropes anticipates a revenue of about $130 million and EBITDA margins of 18%, expected to rise above 20% in two years. The company has seen consistent growth, with a 20% annual growth rate since 2001. After acquisition, Aimia aims to expand senior roles in Canada and Europe. Upon transaction completion, Aimia and Paladin will formalize various agreements. Paladin will also have an option to acquire a 19.9% minority equity stake in Tufropes from Aimia within a year. Tariq Osman and Eric Hauser from Paladin will join Tufropes' Board of Directors. Phil Mittleman, Aimia's CEO, emphasized Tufropes' growth potential, while Arun Goel, Tufropes' Founder, expressed confidence in Aimia and Paladin's future stewardship. Paladin's leaders highlighted Tufropes' manufacturing prowess and the shifting industry landscape favoring synthetic fibers. Aimia is also scouting for similar investment opportunities.