Greaves Cotton Limited, a diversified engineering company, today announced that it has entered into a definitive agreement for the multi-tranche acquisition of Excel ControLinkage Private Limited.
As part of this agreement, in the first tranche, the Greaves Cotton Limited will acquire 60% of the shareholding through a secondary route from the existing shareholders, subject to the fulfilment of customary closing conditions. Greaves Cotton Limited, in February 2023, announced the signing of the binding term sheet to acquire a 100% stake through multiple tranches in Excel ControLinkage Pvt. Ltd.
By combining competencies in the motor controller line of business in Greaves and electronic sensors in Excel, the two companies will have a stronger right-to-win in the electric powertrain and power electronics segments. This will allow them to stay ahead of the competition and establish a stronger market position by offering a larger playing field for specialised technical talent, providing more career growth opportunities for the Company. This further enhances the Company’s ability to attract and retain top talent, driving future growth and innovation.
