Kirloskar Brothers looking at acquisitions in US, Europe - Hindu

KOLKATA: Kirloskar Brothers Ltd (KBL) is looking for acquisitions in the U.S., Europe and also the Far East as part of its plans to emerge as one of the top five makers of pumps in the world, Pradeep G. Chapalgaonkar, Vice-President, said. KBL made four acquisitions since 2002, including one in the U.K.

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Addressing a press conference here, he said that the core group, set up to scout for acquisitions, would look for synergy, logistics advantages and specialised product offerings when choosing a company. He admitted that talks were on with some companies but declined to divulge anything else beyond saying that an acquisition may be made by this fiscal. KBL is India’s largest manufacturer and exporter of pumps, valves and pumping systems and is now giving a strategic thrust to providing fire-fighting solutions to the industry. The buyouts may be financed from the reserves of KBL, the Kirolaskar group or it may be a leveraged buyout. He also said that overseas joint ventures for distribution and marketing would be struck for increasing exports which stood at Rs. 250 crore in 2008-09. “We propose to increase exports by 45 per cent in the current fiscal,” Mr. Chapalgaonkar said. KBL’s revenues stood at Rs. 1,830 crore in 2008-09.

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