Legrand Group is acquiring the UPS business of Numeric Power Systems in India & Sri Lanka for R806.5Cr. The stake was acquired by Indo Asian Electric Pvt Ltd, the wholly owned subsidiary of Legrand.
Legrand Group will also acquire the UPS business of Numeric Singapore Pte Ltd for $4.5Mn.
Ambit Corporate Finance acted as the exclusive financial advisor to Legrand.
Amarchand & Mangaldas & Suresh A. Shroff & Co were the legal advisors for Legrand and Universal Legal for Numeric Power Systems. Ernst & Young and Lakshmi Kumaran & Sridharan provided assistance on respectively financial due diligence and tax due diligence related matters on this transaction.
Incorporated in 1984 and headquartered in Chennai, Numeric Group is in the business of manufacturing and selling UPS, Power Conditioning Products, Solar Power Solutions and LED Lighting Solutions. Numeric is a market leader in UPS products in India. It operates 8 manufacturing facilities and has sales & service network in over 260 locations both in India and overseas.
France based Legrand is engaged in designing, manufacturing and distribution of electrical installations and power distribution products and systems. Legrand (India) Pvt. Ltd. offers electrical and digital building infrastructures related products for residential and commercial buildings, and industrial markets.
Legrand India is headquartered in Mumbai and operates through 24 offices and also has a strong manufacturing base with three state-of-the-art manufacturing units and a global R&D centre.
This is Legrand's third acquisition in India. In 2008, the company acquired distribution board manufacturer - Dipareena Electricals, while in 1996 it acquired Mumbai-based switchgear manufacturing company MDS Switchgear through its Indian arm - Legrand (India) Private Limited.
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