M&A

M&A

Kirloskar Pneumatic to acquire 55% stake in Systems and Components India fos Rs.15-Cr

Press Release   BSE Disclosure  

Pune-headquartered, publicly listed Kirloskar Pneumatic Co Ltd is to acquire a 54.55% equity stake in Mumbai-based System and Components India Pvt Ltd, (S&C) including its wholly owned subsidiary Victory Alloy Steel Pvt Ltd, for INR 15 crore in cash.S & C is in the industrial refrigeration business, with more than 700 installations across India in the dairy, pharmaceutical, chemical and fertiliser industries. The firm’s manufacturing plant is located at Village Patgaon, near Murbad, Maharashtra. It posted a revenue of INR 27.32 crore in FY 2023-24. The current promoter, V Sundararajan, will continue to hold a stake in the company and will help scale up operations.