M&A M&A
Greaves Cotton to acquire cables maker Excel Controlinkage for Rs.385-Cr
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Mumbai-headquartered Greaves Cotton is to acquire Nagpur-based Excel Controlinkage Pvt Ltd for INR 385 crore. The acquisition will be completed in 4 phases. Initially, Greaves Cotton will buy 60% shareholding in Excel. The balance will be acquired through multiple tranches planned till FY26.
This acquisition will enable Greaves to build a complementary product portfolio with common customer segments, commence its international footprint and export revenues, and aid in the growth of the fuel-agnostic powertrain portfolio.
Excel Controlinkage offers controls and cables for commercial vehicles, industrial machines, construction equipment, boats and special purpose vehicles.