Greaves Cotton Ltd., a diversified engineering firm, stated it has entered right into a definitive agreement for the multi-tranche acquisition of Excel ControLinkage Private Ltd.
As a part of this agreement, within the first tranche, the Greaves Cotton will acquire 60% of the shareholding by a secondary route from current shareholders, topic to the fulfilment of customary closing situations.
In February 2023, the corporate had introduced the signing of the binding time period sheet to acquire a 100% stake by a number of tranches in Excel ControLinkage Pvt. Ltd.
Nagesh Basavanhalli, Executive Vice Chairman, Greaves Cotton stated the deal “will unlock powerful synergies between the two companies, streamlining product offerings and enhancing customer convenience.”
By combining competencies within the motor controller line of enterprise in Greaves and digital sensors in Excel, the 2 firms could have a stronger right-to-win within the electrical powertrain and energy electronics segments, he stated.
“This will allow them to stay ahead of the competition and establish a stronger market position by offering a larger playing field for specialised technical talent, providing more career growth opportunities for the company,” he added.
