Crompton Greaves buys UK firm for Rs 200 crore

Crompton Greaves, part of the Avantha group, continued with its inorganic growth strategy by acquiring UK-based electrical engineering firm Power Technology Solutions (PTS) for 30 million pounds, or about Rs 204 crore. This is the company’s sixth buy since 2005.

With this acquisition, CG will gain significant consolidation in the engineering, procurement & maintenance (EPM) segment in UK and get access to newer markets. This acquisition is a step forward towards achieving its revenue goal of $8 billion by 2015.

Crompton also has a good track record in turning around companies it has acquired. Crompton’s earlier acquisitions include Belgian-based Pauwels, Hungary’s Ganz, Irish-based Microsol Holdings and Sonomatra of France.