Mumbai, 15 April 2021: CICO Technologies, the forerunner in construction chemicals, announced that Mr. Abhiroop Gupta has been appointed as the company’s new Managing Director, effective 1 April 2021. Mr Abhiroop Gupta takes over from Mrs Anasuya Gupta, who was the Chairperson and Managing Director. She continues to be the Chairperson of CICO Technologies.
Abhiroop has been a Director and worked across crucial processes at CICO like strategy, operations, and finance to gain cross-functional knowledge and be well equipped to spearhead the organization.
Commenting on the appointment, Mrs Anasuya Gupta, Chairperson, CICO Technologies, said, “I am pleased to welcome Abhiroop as the new MD of CICO Technologies. I joined CICO Technologies in 2008 as a complete novice. With support from an experienced and committed team we have grown CICO to its current position. Now it is time to pass the baton on to Abhiroop, who has been working in the company for some time and has a fair knowledge of the construction-chemical industry, the organisation, its people and most importantly its clients. I look forward to him taking CICO Technologies into the next century with a new, young and dynamic team with support from experienced old guard who have a wealth of knowledge.”
Mr Abhiroop Gupta, MD, CICO Technologies said, “I am excited to take on the role of Managing Director at CICO. My last few years with the company helped me garner a better understanding of the organisation and environment. As CICO gradually moves into its next century, it is a challenging and exciting time to be at the helm. We at CICO believe that foundation is the most important aspect of a structure. Over the last year, our strategy was focused on solidifying our base to address the emerging market needs. We are now set to sail and grow bigger and stronger. Together with my team, I look forward to leading the organization to newer height and further strengthen CICO’s position in the industry and increasing its value for customers and employees.”
Mr Gupta is a promising fourth-generation entrepreneur for CICO having immense knowledge, global exposure, and strong fundamentals. Earlier in his career, Mr Gupta worked for EY, one of the Big Four, as a management consultant. Based out of London, he advised various FTSE 100 clients and was at the core of developing solutions on performance improvement matters. He holds a Master’s in Business Administration from the renowned INSEAD – The Business School for the World. He holds a Bachelor’s in Economics from the University of St. Andrews, UK.
About CICO Technologies
CICO is the oldest brand in India and has been a forerunner in construction chemicals since its inception in 1930. With a legacy of over 90 years, CICO has mastered developing a comprehensive range of end-to- end permanent solutions for industrial, architectural and general construction. It has also developed efficient systems for the repair and rehabilitation industry. CICO products primarily cater to two spheres of construction chemical supply – Retail, and Infrastructure Project Partnering. The array of products meet the requirement of new construction sites, old buildings and heritage structures that need restoration.
CICO expertise lies not only in their cutting-edge technology but also in their reach to the vast Indian market through a nationwide network of distributors. It caters to almost every large infrastructure project in India with a client base that includes NTPC, NPCIL, NHAI, DMRC, NHPC, L&T, HCC, NCC, to name a few. Furthermore, CICO now holds complete ownership and is an independent entity post a successful exit for private equity partner, ACTIS. This re-acquisition is a great milestone not only for CICO as a group but also for the entire industry as it marked one of the very few private equity investments in which the promoter regained the entire ownership.
