Kirloskar Pneumatic Company Ltd (KPCL), a prominent player in the air, refrigeration, and gas compressor industry, has signed a memorandum of understanding (MoU) to acquire a majority stake in Systems and Components India Private Ltd. (S&C). This strategic move will see KPCL taking over more than 51 per cent of S&C.
The S&C, a veteran in the industrial refrigeration sector, boasts over 30 years of expertise with more than 700 installations across India, serving key industries such as dairy, pharmaceuticals, chemicals and fertilizers. Their manufacturing plant is located in Patgaon village near Murbad, Maharashtra.
V Sundararajan, the current promoter and technocrat of S&C, will continue to hold a stake in the company and will play a crucial role in scaling up the business operations alongside KPCL.
The acquisition aims to bolster KPCL’s capabilities, enabling it to expand its footprint into adjacent market segments aligned with its core operations. The transaction is expected to be finalised within the next three months, pending due diligence and closing adjustments.
This acquisition marks a significant step for KPCL in enhancing its market position and diversifying its offerings in the industrial refrigeration landscape, KPCL announced in a statement.