Cybernetik Acquires Majority Stake in US-based Buffalo Extraction Systems

#Cybernetik #BuffaloExtractionSystems #StakeHolder

Source: Cybernetik

“Our acquisition of Buffalo Extraction Systems will open new networks for us in countries like Africa, India, Thailand, USA & South America.” - Mahesh Wagle, Co-founder and Director of Cybernetik

June 2022 : Industrial automation firm Cybernetik has acquired an 87.5% majority stake in Buffalo Extraction Systems for an undisclosed cash consideration. The acquisition will position Cybernetik as a pioneering provider of turnkey industrial automation solutions to the companies engaged in the extraction of medicinal plants, herbs, spices & essential oils. It will also expand Cybernetik’s presence to more markets around the world.

Speaking about the development, Mr. Wagle, Co-founder and Director of Cybernetik said, “Our acquisition of Buffalo Extraction Systems will open new networks for us in countries like Africa, India, Thailand, USA & South America. Given our experience in the extraction, industrial automation space, and manufacturing of high-end material handling and process automation solutions for over 30 years, the synergies between the companies are bound to create a lasting impact.”

Yogesh Jhamtani, CEO & Co-founder of Buffalo Extraction systems on the same, said, "This investment will help us build capabilities to become global leaders in the EPC space & extraction equipment in the agro-produce extraction industry.”

Further he said, “We feel it's a natural progression and we are committed to bringing innovative solutions, while, at the same time, introducing new robust technologies and building the agro-processing industry, which is still in its nascent stages worldwide. With revenue targets of $20 million by 2025, we are just getting started.”