Rishabh Instruments obtains 85 percent stake in Lumel

By SiliconIndia   |   Tuesday, May 31, 2011
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Nashik: Rishabh Instruments has acquired 85 percent stake in Poland-based Lumel S.A. for an undisclosed sum. The acquisitions will provide Rishab a platform to expand into the European markets and also increase its product offerings by bringing Lumel's products into India and other Asian markets where it operates. Lodha Capital Markets played as the sole financial advisor to Rishabh on this deal,reports dealcurry Rishabh Instruments is into manufacturing, designing and developing test and measuring instruments, as well as industrial control products. Some of its key clients include ABB, Alstom, Areva, Crompton Greaves, Schneider, Siemens and Larsen & Toubro. The range of products features insulation tester, power analyser, process calibrator, earth tester, current clamp, analogue and digital panel meters, multifunction meter, electrical transducer, signal isolator, protective trip relay, energy meter and process indicator. Established in Zielona Gora in Poland, Lumel S.A. is owned by the Polish State Treasury and has more than 570 employees on board. The company manufactures industrial automation systems and high-pressure castings. "We see a lot of synergies in technology, markets, product development and sourcing. Rishabh and Lumel will share their technologies, markets, R&D capabilities and technical know-how, thereby enhancing the value proposition for both the companies," said Narendra Goliya, Founder and Managing Director of Rishabh Instruments.
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