KPTL Acquires 85% Stake in Swedish EPC Company Linjemontage
Kalpataru Power Transmission Sweden AB, a wholly owned subsidiary from Kalpataru Power Transmission Limited (KPTL) acquires 85 percent equity stake in Linjemontage i Grastorp AB for an enterprise value of $24 million. The investment is to enhance KPTL’s position in the global T&D EPC business. The acquisition is in-line with KPTL’s stated objective of growth and greater geographical presence in stable and growing markets with focus on core power transmission.
Speaking on the acquisition, Sanjay Dalmia, Executive Director, KPTL, says, “We continue to expand our geographical reach aligned to our vision of being a local player in the global environment. This acquisition has been carried out on grounds of strategic fit both to capture local market opportunity and to help us in expanding our presence in Nordic countries where we have no former presence. This strategic acquisition will also help KPTL with greater access to technology and EPC capability to take turnkey projects in Nordic countries and Europe. Linjemontage has a consistent track record of revenue growth around 15 percent CAGR over last 5 years along with consistent profitability. We look forward to welcoming Linjemontage i Grastorp AB into the KPTL family. Both the companies will leverage each other’s capabilities to deliver significant shareholder value in future.”
Founded in 1993, Linjemontage I Grastorp AB specializes in power supply solutions and services for electricity networks up to voltage range of 400 kV. It focuses into three main business areas, comprising of Substation, Transmission & Local Networks and Electricity Network Services with revenue of around $75 million in 2018. The company has offices in Sweden and Norway.
Headquartered in Mumbai, KPTL has established its footprint in over 40 countries, executing marquee projects, that deliver complete solutions spanning design, testing, fabrication, erection and construction of transmission lines, oil, and gas infrastructure and railways projects on a turnkey basis. KPTL has several contracts in India, Africa, Middle East, CIS, SAARC and Far East.
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