Continuing its inorganic expansion, Schneider Electric India (SEI), a 100% subsidiary of French firm Schneider Electric Industries SAS, has acquired Bangalore based Meher Capacitors. Meher Capacitors manufactures power factor correction (PFC) capacitors and offers comprehensive products and solutions for PFC, harmonic filtering and network analysis for industrial, commercial and infrastructure sectors in India.
This is the second acquisition of the company in two months time. Earlier in June 2009, SEI acquired Bangalore-based Conzerv Systems in energy efficiency market.
Speaking about the development, Olivier Blum, Country President of Schneider Electric in India stated that Meher Capacitors acquisition is an extension of Schneider Electric’s acquisition of Conzerv Systems in June 2009.
“It is a logical next step after the recent acquisition of Conzerv Systems. The acquisition brings a comprehensive portfolio in the field of energy efficiency sector including measurement, power quality correction, automation and monitoring. We can now address our customers’ energy efficiency needs in industrial, commercial, electrical utility and in the infrastructure sector,” said Blum.
Post Meher acquisition, Schneider Electric eyes big considering the fast growing energy efficiency markets in India and abroad. It targets five times growth in Meher’s PFC business in the next four years, in export markets including Asia-Pacific, Middle-East, South America and Europe, which comprises half of the Meher markets.
Schneider Electric entered India in 1963 through a JV with Tata Group and established its subsidiary Schneider Electric India Pvt Ltd in 1995. In 2000, it acquired Chennai based S&S Switchgear and Nashik based Crompton Greaves Low Voltage division. Schneider Electric India also acquired global firm American Power Conversion (APC) in critical power and cooling solutions domain and security solutions provider Pelco in 2007.
Schneider Electric offers integrated solutions across multiple market segments including energy and infrastructure, industrial processes, building automation and data centres and networks as well as residential applications. It achieved sales of more than 18.3 billion euros ($26.27 billion) in 2008.