Greaves Cotton Acquires 100% Stake In Excel Controlinkage

Diversified engineering company Greaves Cotton on Monday said it has acquired the remaining 20% stake in Excel Controlinkage through the secondary route, taking its aggregate shareholding in the company to 100%.

With the completion of this acquisition, effective August 13, Excel Controlinkage has become a wholly-owned subsidiary of Greaves Cotton Ltd, the company said in a statement.

The acquisition marks the completion of the multi-tranche acquisition process initiated in April 2023, when Greaves Cotton entered into a definitive agreement to acquire Excel Controlinkage.

Incorporated in 1994, Excel Controlinkage has a presence in mechanical and electronic motion control systems, with capabilities across push-pull cables, mechanical levers and linkages, and electronic throttle levers. Its products serve customers across commercial vehicles, construction equipment, agriculture, material handling, marine and special purpose vehicles, as well as the Aftermarket.

The company also operates an integrated manufacturing facility for heavy-duty push-pull cables, including inner and outer conduits and end fittings.

"The completion of the acquisition of Excel Controlinkage marks an important step in a margin-accretive acquisition that complements our diversification strategy. We are focused on building and scaling businesses with differentiated engineering capabilities and opportunities to participate in India's evolving mobility and industrial ecosystem, said Parag Satpute, Group CEO & Managing Director, Greaves Cotton Limited.

The acquisition of Excel Controlinkage is aligned with Greaves Cotton's broader strategy of building a diversified portfolio, the company said.

This will further strengthen its presence in commercial vehicles and contribute to the development of a broader mobility ecosystem, it added.

With Excel Controlinkage, now a wholly owned subsidiary, Greaves Cotton will continue to focus on leveraging its capabilities, product portfolio, and customer relationships to support its growth across energy, mobility, and industrial solutions under Greaves.Next, the company said.