Hager Group, a leading manufacturer and service provider for electrical installations in residential, commercial and industrial buildings is looking for acquisitions in India to enhance its footprint and broad base its product offerings.
“We are interested in acquisitions in India. We want to grow both organically and through acquisitions here. We are looking at opportunities. Currently, the Indian market does not offer lots of opportunities. Many Indian entrepreneurs have businesses with good potential and they are not ready to sell unless they get an unreasonable price,” Daniel Hager, CEO, Hager Group, told The Hindu in an interview.
“Therefore, currently discussions are not taking place. But, of course, we are looking for opportunities in India. If we will have it, we will love to do that (acquire),” Mr. Hager added.
Hager, a company that has large operations in Germany and France, provides solutions and services in lighting, energy distribution, cable management, security systems and building automation.
Family runThis family-run business which set up its manufacturing facility in Pune in 2007 in a joint venture with L&T, which has now turned into a wholly-owned subsidiary, is keen to invest more in India considering the growth potential here.
“In 2010, we embarked on a five-year project which includes growing in emerging economies of Brazil, India and China. So, for the long-term, India is very much in our strategic focus for development.
Today, we are growing in double digit in India. We want to further increase our local footprint by enhancing capacity, localising and scaling up the team here. This will involve lot of investment,” Mr. Hager said.
Top five marketsHe said India figured among the top five markets of Hager Group which has a turnover of 1.6 billion euro. “India has the potential to be our top five markets worldwide. Our Indian and Chinese subsidiaries are competing for the number three slot after Germany and France,” he said.
The large scale building constructions across Indian metros was fuelling demand for quality electrical equipment that come with smart solutions and the trend would continue, he added.
