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.
Commenting on the development, Mahesh 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.”
Buffalo Extraction Systems was founded in 2019 in Bentonville, AR, by a young, dynamic group of technocrats to offer state-of-the-art extraction solutions for various industries. It undertakes the task of helping its clients navigate through the essentials of the extraction process from the concept to the commissioning.
Yogesh Jhamtani, CEO & Co-founder of Buffalo Extraction systems said, “This investment will help us build capabilities to become global leaders in the EPC space & extraction equipment in the agro-produce extraction industry. 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.”