On Friday, Pune's Kirloskar Pneumatic Co. announced that it has signed a Memorandum of Understanding for acquiring a majority stake in Systems and Components India Pvt.
The company expects that the transaction will be completed within the next three months, pending due diligence and closing adjustments, though it did not disclose the size of the deal or other specific details.
Kirloskar Pneumatic is a key player in the air, refrigeration, and gas compressor industry.
The acquisition of over 51% stake in S&C will empower KPCL to scale up its business and expand into adjacent segments related to its current operations, the company said.
(With inputs from PTI)
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