Lloyd Electric & Engineering has signed the asset and share purchase agreement (ASPA) to acquire Noske Kaeser’s Rail & Vehicle business in Germany, New Zealand, Australia, Brazil and United States. The said acquisition represents a strategic opportunity for the company to expand its product offering in Heating, Ventilation and Air conditioning (HVAC) solutions for rail and defense markets at global level. The acquisition is subject to regulatory approvals of authorities in respective countries. The transaction is expected to be completed by end of October 2015.
The acquisition process has been run by company’s in-house Mergers & Acquisitions Team along with Allen & Overy LLP, Hamburg, Germany as Legal Advisers and KPMG, Hamburg, Germany as Financial Due diligence Advisers.
Lloyd Electric & Engineering is in the business of manufacturing heat exchanger coils for air-conditioning and refrigeration application, ‘U’ bend and return bend for heat exchanger coils, system tubing and header line for air conditioner equipment and sheet metal items for air conditioner systems made from CNC presses and are leaders in India.
