Kirloskar Ferrous acquires distressed castings and machining player Oliver Engineering

Kirloskar Ferrous Industries Ltd (KFIL), a Pune-based, publicly listed castings and pig iron manufacturer, has acquired Oliver Engineering Pvt Ltd, a distressed company engaged in ferrous casting and machining. With its manufacturing facility located in Punjab, the target company has a casting capacity of 28,000 MT per annum. The advisors to the transaction were KPMG (financial) and Pioneer Legal.