JSA advised Greaves Cotton Limited, (“GCL“) on its proposed multi-tranche acquisition of Excel Controlinkage Private Limited (“Excel”). GCL has entered into definitive agreements with Excel and its existing shareholders, whereby GCL would first purchase a 60% stake in Excel, followed by future tranches for the purchase of remaining shares from the current promoters of Excel.
GCL is a diversified engineering company and a leading manufacturer of cleantech powertrain solutions (CNG, petrol and diesel engines), generator sets, farm equipment, e-mobility, aftermarket spares and services. Excel is currently engaged in the business of manufacturing mechanical & electronic motion control systems with integrated capability to manufacture push pull cables, levers & sensors. The transaction is expected to combine competencies in the motor controller line of business in GCL and electronic sensors in Excel, to create a stronger right-to-win in the electric powertrain and power electronics segments.
Deal Value: INR 385 crores / USD 46.9 million in multiple tranches
Our Transaction and Due Diligence Team Partner – Saurya Bhattacharya, Senior Associate – Soham Roy, and Garima Sharma, Associate – Thomas G Kolath, and Company Secretary – Megha Kumari.
Saurya specialises in domestic and cross-border corporate matters, with a special focus on acquisitions, joint ventures, asset and business sale, commercial contracts, corporate structuring and restructuring, corporate compliance and strategic advisory.