Crompton Greaves, part of the $4 billion Avantha Group, on Tuesday announced the acquisition of U.K.-based Power Technology Solutions Limited (PTS) for around 30 million pound sterling (over Rs. 200 crore).
“This strategic investment will contribute as much to Crompton Greaves' product portfolio as it will to our overall growth plans,” Avantha Chairman and CEO Gautam Thapar said in a statement.
According to S. M. Trehan, Managing Director, “With the acquisition of Power Technology Solutions, we will gain significant consolidation in the engineering, procurement and maintenance (EPM) segment in the U.K. and get access to newer markets.” PTS is a high voltage electrical engineering company which provides consultancy, technical and engineering support to regional electricity companies.
