Batliboi acquires Air Engineering Company in Europe

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Batliboi acquires Air Engineering Company in Europe

Batliboi acquires Air Engineering Company in Europe

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Batliboi Ltd ., one of India's leading Engineering companies, today announced the acquisition of 70% controlling stake in AESA Air Engineering , SA, Europe's premier Air Technology company  for Euro 1.6 million (Approx Rs. 9 crores) in an all cash deal.

Batliboi Ltd., with a gross turnover of Rs. 300 crores is a leading player in Textile Air Engineering, Textile Machinery, Machine Tools and Air Conditioning in India. This landmark acquisition of AESA marks Batliboi Ltd's second foray into the M&A space after the successful acquisition of QuickMill , a Canadian Machine Tool company in March 2007.

AESA Air Engineering, SA, a leading European player in Industrial Air Engineering, is an part of erstwhile air engineering business of leading international companies Ameliorair , SA France and Lufttechnische Gesellschaft , Germany (LTG).   AESA was spun off from LTG Group when AESA acquired LTG Textile Technology in 2003.

This acquisition of AESA by Batliboi will help both companies reap benefits of mutual synergies, through;

(a)  Gaining a global footprint in world markets, enabling it to be an international player in Textile Air Engineering in European, South American and fast growing Asian markets using AESA's wide spread marketing network through its subsidiaries in Italy, Singapore, China and India.

(b) Strengthening Batliboi's existing lead in the Indian market for Textile Air Engineering, and will put it in a commanding position to compete with other foreign players.

(c)  Broadening the product basket to customers through addition of applications for synthetics and non-woven textiles, and opening avenues to enter in to new areas of air-engineering i.e. glass and carbon fibers, paper and tobacco through Batliboi's well established engineering and marketing reputation. 

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