BS Ltd’s subsidiary BS Enviro Solutions Ltd has entered into a definitive agreement to buy 51 per cent stake in Skywater India Pvt Ltd, a group firm of the US investment firm Harbinger Capital Partners, for an undisclosed amount, according to a company disclosure.
Skywater India is a wholly owned subsidiary of Russell Hobbs Inc (formerly known as Salton, Inc), which in turn is majority-owned by Harbinger Capital. Skywater develops water-related products and specialises in atmospheric water generators that convert air into drinking water.
Russell Hobbs owns a string of small consumer appliance brands including Black & Decker besides home environment and water filtration products.
BS Enviro Solutions provides environmental management solutions for liquid and solid waste including handling and recycling of hazardous waste, e-waste, medical, water and waste water. The majority stake buy fits in with its business operations of environment and water-related products.
The parent firm BS Ltd (formerly BS Transcomm Ltd), which holds 90 per cent stake in BS Enviro Solutions, develops and provides telecom infrastructure to companies and operators. Its products include cell towers, shelters, energy meters, fuel management systems, multi-tenant energy optimiser, remote site monitoring solutions and alternate energy solutions. It is a part of the BS Group and led by Rajesh Agarwal and Sanjay Sultania.
Headquartered in Hyderabad, BS has its two plants located in Medak district with an annual installed capacity of 2,40,000 MTPA. The firm reported consolidated revenues of Rs 528 crore with net profit of Rs 14 crore for the third quarter ended December 31, 2012.
In August 2012, BS Ltd acquired an undisclosed stake in Hyderabad-based online travel company AbhiBus Services India Pvt Ltd. In 2008, the firm raised $42.91 million through IPO.
(Edited by Sanghamitra Mandal) Leave Your Comment