Crompton Greaves acquires US firm

Crompton Greaves Limited (CG), a leader in the management and application of electrical energy, on Friday announced the acquisition of US-based QEI Inc.

The approximate enterprise value of this acquisition is equivalent to US$ 30 mn comprising of an upfront payment of US$ 24 mn followed by a balance of US$ 6 mn to be paid as conditional ?earn-out? amount.

For the year ended 31 July 2010, QEI had revenues equivalent to US$ 12.4 mn and EBIDTA equivalent to US$ 2.35 mn. The acquisition is subject to certain regulatory approvals in the US.

This is CG?s ninth acquisition in a span of six years (beginning 2005); the other acquisitions being Pauwels (2005), Ganz (2006), Microsol (2007), Sonomatra (2008), MSE Power Systems (2008), PTS (2010), three businesses in Nelco (2010) and Emotron (2011).

S.M. Trehan, Managing Director, Crompton Greaves, said, ?With this acquisition, CG has further consolidated its position in the SCADA and substation automation domain. The acquisition will help us penetrate the North American automation market by using QEI?s customer reference.?

Based in Springfield, New Jersey, USA, QEI is a market leader in providing SCADA and automation systems and products for the management of electric transmission and distribution networks in electric utilities and electrified transit.