Crompton Greaves Ltd is acquiring Power Technology Solutions Limited (PTS), a UK based high voltage electrical engineering company, for an approximate enterprise value of 30 million pound. The company informed the exchanges that it has arranged the finances for the acquisition of the company.
PTS is a high voltage electrical engineering company which provides consultancy, technical and engineering support to Regional Electricity Companies (RECs).
The acquisition will help Crompton Greaves become a significant player in this space. Crompton Greaves is high on inorganic expansion mode. It acquired MSE Power Systems Inc, Societe Nouvelle de Maintenance Transformateurs in 2008 and Microsol in 2007. It has made about 19 acquisitions till now since 2005.
The share price of Crompton Greaves went up by nearly 3.5% in the morning, reaching Rs 261.35 before coming down to Rs 258 levels.