Kalpataru Power Transmission Ltd (KPTL), an EPC player in the power and infrastructure contracting sector, has signed a definitive agreement to acquire a 85 per cent stake in Swedish firm Linjemontage i Grastorp AB (LMG) for an enterprise value of $24 million.
Grastrop-headquartered LMG, founded in 1993, specialises in power supply solutions and services for electricity networks within the voltage range of 0.4–400 KV.
The company had posted revenues of around SEK 700 million (around $75 million) in 2018 and has a profitable track record, KPTL said in a statement.
Global presence
LMG, which mainly operates across substation, transmission and local networks and electricity network services, has a presence in Sweden and Norway. As of date, the firm’s order book stood at about 700 million ($75 million).
Mumbai-based investment banking firm Singhi Advisors was the advisor to KPTL for this acquisition.
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