Greaves Cotton to acquire motion control systems maker Excel Controlinkage

  • Industry News
  • Feb 10,23
The engineering company Greaves Cotton took 100% equity stake of cable manufacturers Excel Controlinkagein possession. The acquisition made for Rs 385 crores will enhance Greaves’ electronics capabilities, international footprint and expand fuel-agnostic powertrains.
Greaves Cotton to acquire motion control systems maker Excel Controlinkage

Greaves Cotton, a leading diversified engineering companies in India,signed a binding term sheet to acquire 100 per cent stake through multiple tranches in Excel Controlinkage, a manufacturer of cables and control levers. The deal value Excel Controlinkage at 7.5x of FY23, normalised earnings before interest, taxes, depreciation and amortization (EBITDA) for first tranche subject to maximum enterprise value of Rs 385 crore. The latest acquisition will enable Greaves to build a complementary product portfolio with common customer segments, grow its international footprint and export revenues, and aid in the growth of the fuel-agnostic powertrain portfolio. As Greaves strengthens its mobility ecosystem, the latest initiative also accentuates its strategy of building mechanical, to mechatronic, to electronic capabilities.

Commenting on the development, NageshBasavanhalli, Executive Vice Chairman, Greaves Cotton said, “Greaves has set a distinguished track record in moving India sustainably for decades. The acquisition is highly profitable and margin accretive at a consolidated level and complements our vision to build new competencies and accelerate the growth of clean-tech, last-mile mobility. Excel has established itself as one of the leading players in manufacturing of mechanical and electronic motion control systemswith integrated manufacturing capabilities in India. By harnessing our common synergies, we will be positioned to unlock new growth opportunities for Greaves and emerge as a strong catalyst for a self-reliant, full stack, Made in India mobility ecosystem.”

Ashok Mrig, Founding Partner, ExcelControlinkage said, “We have created Excel as a proud engineering and product manufacturing company providing solutions to our OEM and aftermarket customers. We are confident that in partnership with Greaves with its multi-product, multi-location engineering capability is the right partner for Excel to grow its business globally and multiply Excel’s value in interest of all stakeholders.”

Arup Basu, MD, Greaves Cotton Limited, said “ExcelControlinkage has a complementary product portfolio serving common industry segments. The combined capabilities will expand GCL’s technical competencies and act as a springboard for profitable growth across geographies on a larger base of engineering products and services.”

Excel is one of the largest players in mechanical and electronic motion control systems with an integrated capability to manufacture push pull cables, levers and sensors. Excel’s wide range of portfolio includes heavy-duty push-pull cables, mechanical levers and linkages, and electronic throttle levers catering to customer segments like commercial vehicles, construction equipment, agriculture, material handling, marine, and SPVs, supplying directly to vast majority of the OEMs as well as for aftermarket. Excel provides the perfect opportunity for Greaves to scale up this business while also unlocking synergy benefits.

Related Stories

Electrical & Electronics
Pareek Group aims high for reaching new heights

Pareek Group aims high for reaching new heights

Over the period of time, Pareek Power and Pumps Pvt Ltd, Indore, has earned reputation among its customers for its reliability, honesty and dedication for earning customer satisfaction.

Read more
Auto & Auto Components
Greaves Cotton announces Q1, FY24 earnings, EBITDA stood at Rs 45 Cr

Greaves Cotton announces Q1, FY24 earnings, EBITDA stood at Rs 45 Cr

Greaves Cotton saw a growth of 63 per cent y-o-y, and improvement in margins by 4 bps to 11.3 per cent. Company’s new acquisition Excel's revenue stands at Rs 39 crores with robust margins.

Read more

Related Products

Tata Motors unveils facilities for development of Hydrogen propulsion tech

AUTO COMPONENTS & ACCESSORIES

Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more

Request a Quote

Tata Motors plans petrol powertrain for Harrier and Safari SUVs

AUTO COMPONENTS & ACCESSORIES

Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more

Request a Quote

Electric Vehicle Charger

AUTO COMPONENTS & ACCESSORIES

RRT Electro is engaged in manufacturing of customized Power Electronic Products over two decades having capability to Design, Develop, Prototyping, Regulatory Compliance testing & Certification, Manuf Read more

Request a Quote

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016

Reach out to us

Call us at +91 8108603000 or

Schedule a Call Back