Pune-based Kirloskar Brothers Ltd (KBL), engaged in the manufacturing of pumps, has acquired 90% stake in South African firm Braybar Pumps Ltd for a sum of Rs 11 crore. Kirloskar has acquired the firm through its wholly owned subsidiary Kirloskar Brother International B V in The Netherlands.
The acquisition will provide KBL a foothold in the South African market with an immediate supply and service base, it said in a statement. It believes the Braybar facilities can be further utilised for assembling white metal lined bearings, its other line of businesses.
Braybar is engaged in manufacturing and supply of high head multistage pumps for mining industry. The company is also engaged in repair and servicing of pumps, and claims a substantial market share in this segment as well.
KBL is primarily engaged in producing pumps for large infrastructure projects (water supply, power plants, and irrigation), project and engineered pumps, industrial pumps, agriculture and domestic pumps, valves and hydro turbines. The acquisition will help it diversify its operation in to the mining space.
The net sales of the company in FY 2010 was Rs 2,017 crore as compared to Rs 1,830.9 crore a year ago. The net profit was Rs 117.5 crore against Rs 67 crore.