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Mergers & Acquisitions | 3 October 2012

Paharpur Cooling Towers May Buyout SPX's Cooling Biz

by Paritosh Gajjar
Paharpur Cooling Towers May Buyout SPX's Cooling Biz
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Swarup family promoted Paharpur Cooling Towers Limited (PCTL) is in talks to acquire American firm SPX Corporation’s cooling business.

SPX is undergoing restructuring of its global portfolio and has mandated JP Morgan for the sell off. Credit Suisse is representing Paharpur Cooling Towers.

ET stated that the deal could be a leveraged buyout with the target company valued at around $500-600 Mn in comparison to Paharpur’s revenue being R1159 Cr in 2010-11 with R227 Cr in net profits.

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