Hammond Power Solutions Inc. is planning to acquire 70% stake in Hyderabad based Pan-Electro Technic Enterprises Private Limited.
Founded in 1988 by K Linga Reddy, PETE manufactures power and distribution transformers. It offers power/distribution, furnace/rectifier/mining, earthing/starting auto/neutral grounding, traction/booster, submerged, dry type, and corrugated transformers, as well as voltage regulators.
The company operates six units in Hyderabad (Andhra Pradesh), with a combined capacity to produce transformers of a total power rating of 1000 megavolt ampere. The transformers are manufactured as per client’s specification.
PETE's clientele includes engineering and construction companies such as Megha Engineering & Infrastructures, power distribution companies such as North Eastern Electricity Supply Company of Orissa Ltd, Transmission Corporation of Andhra Pradesh Ltd, Reddy's Laboratories Ltd and Asrani Tubes Ltd.
Hammond Power designs and manufactures dry-type custom electrical engineered magnetics, electrical dry-type and cast coil transformers. HPS has two manufacturing plants in Canada, one in the United States, two in Mexico and one in Italy.
In this space recently, ABB India acquired Hungary based transformer service company - General Trafo to expand its transformer service offering for distribution and small power transformers. Schneider Electric was planning to acquire a majority stake in Delhi-based Luminous Power Technologies Pvt Ltd (LPT); while Suzlon Energy sold 26% stake in Belgium-based Hansen Transmissions International N.V. to Germany-based ZF Friedrichshafen AG, for 115 Mn pounds ($187 Mn).
Tags
Transformers ,
acquire ,
Hammond Power Solutions Inc ,
Pan-Electro Technic Enterprises Private Limited ,
K Linga Reddy ,
Megha Engineering & Infrastructures ,
North Eastern Electricity Supply Company of Orissa Ltd ,
Transmission Corporation of Andhra Pradesh Ltd ,
Dr. Reddy's Laboratories Ltd ,
Asrani Tubes Ltd ,
ABB India ,
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 27/01/12 |
Pan Electro Technic - Hammond Power Solutions |
M&A |
Hammond Power Solutions Inc. |
- |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 17/02/12 |
M&A |
Amtek Auto Limited |
Neepaz VForge India Limited (VCube Forge India Limited) |
46.68 |
Announced |
| 16/02/12 |
M&A |
|
Virgo Engineers Limited |
- |
Announced |
| 10/02/12 |
M&A |
Indo Asian Electric Private Limited |
UPS Business |
162.63 |
Completed |
| 07/02/12 |
Private Equity |
IDFC Private Equity |
Regen Powertech Private Limited |
20.39 |
Announced |
Company |
| Name | Promoters | Office | Competitor | Website |
| Pan Electrotechnic Enterprises Private Limited |
Linga Reddy Kolli |
G-9-11,Bhavya Sree Arcade, Erragadda |
|
www.petetransformers.com |
