Kalpataru Power Transmission Limited (KPTL), a leading global EPC player in the power and infrastructure contracting sector, announced that its wholly-owned subsidiary in “Sweden namely Kalpataru Power Transmission “Sweden AB has signed definitive agreement to acquire 85% Equity stake in Linjemontage i Grastorp AB for an enterprise value of USD 24 Million.

Linjemontage i Grastorp AB, was founded in 1993, specializes in power supply solutions and services for electricity networks up to voltage range of 400 kv. The Company mainly operates into three main business areas, comprising of substation, Transmission & Local Networks and Electricity Network services with revenue of around SEK 700 Mn (around USD 75 Million) in 2018 and has a profitable track record. The Company has a presence in Sweden & Norway with an order book of around SEK 710 Mn (around USD 77 Million) as on date.

The acquisition of Linjemontage i Grastorp AB is in‐line with KPTL’s stated objective of growth and greater geographical presence in stable and growing markets with a focus on core power transmission segment. The transaction is expected to close in the first quarter of FY2019‐2020.