India’s leading engineering firm makes multi-tranche acquisition for right-to-win in electric powertrain and power electronics segments
Greaves Cotton Limited, has announced that it has entered into a definitive agreement for the multi-tranche acquisition of Excel ControLinkage Private Limited.
This strategic move is expected to unlock powerful synergies between the two companies, streamlining product offerings and enhancing customer convenience.
The acquisition will take place in multiple tranches, with Greaves Cotton Limited initially acquiring 60% of the shareholding through a secondary route from the existing shareholders, subject to the fulfilment of customary closing conditions.
In February 2023, the company had signed a binding term sheet to acquire a 100% stake in Excel ControLinkage Pvt Ltd through multiple tranches.
Nagesh Basavanhalli, Executive Vice Chairman of Greaves Cotton Limited, expressed his optimism about the acquisition and said that it will allow the two companies to combine their competencies in the motor controller line of business in Greaves and electronic sensors in Excel.
This will give them a stronger right-to-win in the electric powertrain and power electronics segments, allowing them to stay ahead of the competition and establish a stronger market position.
The acquisition is expected to provide a larger playing field for specialised technical talent, providing more career growth opportunities for the Company. It will also enhance the Company’s ability to attract and retain top talent, driving future growth and innovation.
The acquisition of Excel ControLinkage Private Limited is a significant step forward for Greaves Cotton Limited and is expected to help the company achieve its strategic objectives. The transaction is subject to regulatory approvals and customary closing conditions