In keeping with the latest trend of inorganic growth through the acquisition route, it has been reported that the Premium Transmission Ltd, a Karan Thapar group company, has acquired Rexnord Stephan GmbH & Co KG, Germany, a Euro 21 million maker of geared motors and industrial gearboxes and others for an undisclosed sum, according to a report in The Economic Times.
According to the reports, the acquisition has been done through a Netherlands based SPV and is expected to increase Premium Transmission's turnover besides aiding the global ambitions of the industrial gear maker.
The report also quoted Praveen Sachdev, chairman, Premium Transmission Ltd, as saying, "The acquisition of Stephan is a major step forward in our desire to build a global gear business. The focus of the group is to specialise in the supply of industrial gearboxes. We intend to significantly grow the Hameln business."
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