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Kolkata-based Kilburn Engineering Ltd (KEL) has announced the acquisition of M E Energy Private Ltd, a prominent player in waste heat recovery and utilisation systems, for a total consideration of ₹98.70 crore. This strategic move aims to bolster KEL's position as a comprehensive solution provider in the thermal engineering domain.
M E Energy, which reported revenue of ₹44.70 crore in the fiscal year 2022-23, brings valuable expertise in waste heat recovery (WHR) solutions, complementing KEL's existing portfolio of drying systems.
The acquisition, which includes a cash payout of ₹75.46 crore, signifies a significant milestone in KEL's growth journey, enhancing its capabilities and market presence.
Amritanshu Khaitan, Director of KEL, expressed confidence in the strategic importance of the acquisition, emphasising M E Energy's expertise in strengthening its commitment to innovation and service expansion. He highlighted the potential for sustainable value creation for shareholders through this collaboration.
Ranjit Lala, Managing Director of KEL, underlined the synergies enabled by the acquisition, noting that M E Energy's specialisation in thermal engineering and heat recovery systems perfectly complements Kilburn Engineering's existing drying systems. This synergy is expected to unlock new sales opportunities by leveraging the combined client base of both entities.
In the nine months ending December 2023, KEL reported a revenue of ₹207 crore and a net profit of ₹27 crore, reflecting its robust financial performance amidst strategic initiatives aimed at expansion and diversification.
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