Controls & Switchgear Co today said it has raised Rs 100 crore through private equity funding from GE Commercial Finance India, which will be used for capacity expansions and to pursue inorganic growth avenues, among others.
The firm is a manufacturer of power generation, distribution and protection products including low voltage switchgear and engineered power conductors.
In a statement, Controls & Switchgear said the fund would used for capacity expansions to strengthen its R&D credentials and pursue inorganic growth opportunities.
“Currently C&S is amongst the highest investors in R&D in its segment and the additional inflow will further strengthen our resolve to continuously upgrade our technologies and facilities to compete with leading multinational companies. In addition, we are actively looking at inorganic opportunities to enhance our products portfolio and market access,” C&S Group's chairman R N Khanna said.
GE Commercial Finance India is part of American conglomerate GE.
Source: Economic Times