Greaves Cotton Limited, India’s leading diversified engineering company, today announced that it has entered into a definitive agreement for the multi-tranche acquisition of Excel ControLinkage.
As part of this agreement, in the first tranche, the Greaves Cotton Limited will acquire 60 per cent of the shareholding through a secondary route from the existing shareholders, subject to the fulfilment of customary closing conditions. Greaves Cotton Limited, in February 2023, announced the signing of the binding term sheet to acquire a 100 per cent stake through multiple tranches in Excel ControLinkage.
Nagesh Basavanhalli, Executive Vice Chairman of Greaves Cotton, expressed optimism about the acquisition, stating that it “Will unlock powerful synergies between the two companies, streamlining product offerings and enhancing customer convenience.”
By combining competencies in the motor controller line of business in Greaves and electronic sensors in Excel, the two companies will have a stronger right-to-win in the electric powertrain and power electronics segments.
Greaves Cotton Limited (GCL) is a diversified multi-product and multi-location engineering Company with a rich legacy and brand trust of over 163 years. The Company is a leading name in Fuel Agnostic Powertrain Solutions, E-Mobility, Aftermarket and Retail.
The Company’s diversification strategy is driven by customer-centricity and sustainability. As a part of this diversification strategy, the Company has recently announced the acquisition of Excel Controlinkage. to unlock new avenues of growth and continue to build expertise in future technologies.
GCL is on a mission to redefine the sustainable, cleantech mobility ecosystem through transformative technologies. It is powered by the purpose of touching a billion lives by 2030 and enabling them to make a sustainable transition to green mobility.
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