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ELGI Equipments gets nod to acquire stake in Michigan Air Solutions LLC

17 Dec 2019 Evaluate

ELGI Equipments has received approval for acquisition of 100% shareholding and control of Michigan Air Solutions LLC, a Limited Liability Company headquartered in State of Michigan, USA. This acquisition will be accomplished through ELGI Compressors USA, Inc., a wholly owned subsidiary of ELGI Equipments. The Board of Directors of the Company at its meeting held on December 16, 2019 has approved the same.

The company is a distributor and specialist in air compressor sales, maintenance and services. The total consideration for the acquisition is around $6 million (Rs 42.44 crore). This acquisition will significantly expand the company’s footprint in the State of Michigan, USA.

Elgi Equipments is a holding company and an air compressor manufacturer. The company’s segments include Compressors, Automotive Equipments and Others.

Elgi Equipments Share Price

628.45 29.50 (4.93%)
28-Aug-2026 16:59 View Price Chart
Peers
Company Name CMP
Kirloskar Brothers 1914.75
KSB 793.30
Shakti Pumps (India) 493.20
Elgi Equipments 628.45
Kirloskar Pneumatic 722.85
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