Elgi Equipments Acquires Pulford Air & Gas, Australia
Elgi Equipments Limited, one of India's leading air-compressor manufacturers, announced its 100% acquisition of F.R. Pulford & Son Pty Limited along with its wholly owned subsidiary Advanced Air Compressors Pty Ltd, doing business as Pulford Air and Gas ("Pulford"), based in Sydney, Australia.
Elgi Equipments is currently on a business mission of becoming a leading player in the global air compressor business by 2027. This strategic acquisition made by ELGi is, in fact, a significant step the company has made in Australia to expand its footprint in the whole region.
Through this acquisition, ELGi gains access to a national pool of customers to grow sales and service in Australia. Pulford is one of the largest distributors of industrial compressors in Australia and has been in the business for nearly 100 years. The company has reported an annual turnover of AUD 14.5 Million during the financial year 2015-16, AUD 15.8 Million during 2016-17 and AUD 18 Million • during 2017-18. ELGi will gain 100% of the shareholding and control of Pulford.