Crompton Greaves’ power business acquired
USA: First Reserve International, a US private equity fund, announced the signing of an investment to acquire a subset of the international power transmission and distribution division of Crompton Greaves Ltd., which will be rebranded as Pauwels, reports the PE Hub.
USA: First Reserve International, a US private equity fund, announced the signing of an investment to acquire a subset of the international power transmission and distribution division of Crompton Greaves Ltd., which will be rebranded as Pauwels.
A share purchase agreement has been signed for CG power businesses in Europe, North America and Indonesia for an enterprise value of $126 million, according to Reuters.
The acquired division, which is expected to be rebranded as Pauwels, makes transformers and switchgears, and provides systems across the transmission and distribution sectors.
Source: First Reserve; Reuters
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