Blue Star completes acquisition of Naseer Electricals
Central airconditioning and commercial refrigeration major Blue Star Limited has completed strategic acquisition of Naseer Electricals Private Limited.
By PTI |
BANGALORE: Central airconditioning and commercial refrigeration major Blue Star Limited has completed strategic acquisition of Naseer Electricals Private Limited, a leading electrical contracting firm, as a going concern for a consideration of upto Rs 42 crore.
The acquisition will enable Blue Star, a leader in central airconditioning, to deliver integrated Mechanical, Electrical and Plumbing (MEP) contracting projects for commerical building and infrastructure designs.
"With the acquisition, Blue Star, which has 35 per cent market share in the central airconditioning market in India, hopes to achieve a similar share in the electrical contracting market in two years", Suneel M Advani, Vice-President and Managing Director, Blue Star Ltd, said, announcing the acquisition completion at a news conference here.
"In the next three months, we expect to roll out MEP contracting in the Western and Northern regions", he said.
"The South is the biggest market for Blue Star, which has 50 per cent share here", Advani said.
The growing Indian economy and construction boom, especially in infrastructure, hospitality, healthcare, IT and ITES segments, offer huge business potential in the MEP contracting space.
He said many Blue Star customers have sought electrical contracting services from the company. While the company would continue to focus on its core businesses of airconditioning and commercial refrigeration as manfacturer, contractor and service provider, it would enhance it's capabilities in the MEP space by entering into electrical contracting through this transaction, he said.
The acquisition will enable Blue Star, a leader in central airconditioning, to deliver integrated Mechanical, Electrical and Plumbing (MEP) contracting projects for commerical building and infrastructure designs.
"With the acquisition, Blue Star, which has 35 per cent market share in the central airconditioning market in India, hopes to achieve a similar share in the electrical contracting market in two years", Suneel M Advani, Vice-President and Managing Director, Blue Star Ltd, said, announcing the acquisition completion at a news conference here.
"In the next three months, we expect to roll out MEP contracting in the Western and Northern regions", he said.
"The South is the biggest market for Blue Star, which has 50 per cent share here", Advani said.
The growing Indian economy and construction boom, especially in infrastructure, hospitality, healthcare, IT and ITES segments, offer huge business potential in the MEP contracting space.
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He said many Blue Star customers have sought electrical contracting services from the company. While the company would continue to focus on its core businesses of airconditioning and commercial refrigeration as manfacturer, contractor and service provider, it would enhance it's capabilities in the MEP space by entering into electrical contracting through this transaction, he said.
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