USA: First Reserve International, a US private equity fund, announced the signing of an investment to acquire a subset of the international power transmission and distribution division of Crompton Greaves Ltd., which will be rebranded as Pauwels, reports the PE Hub.

Crompton Greaves’ power business acquired

USA: First Reserve International, a US private equity fund, announced the signing of an investment to acquire a subset of the international power transmission and distribution division of Crompton Greaves Ltd., which will be rebranded as Pauwels.

A share purchase agreement has been signed for CG power businesses in Europe, North America and Indonesia for an enterprise value of $126 million, according to Reuters.

The acquired division, which is expected to be rebranded as Pauwels, makes transformers and switchgears, and provides systems across the transmission and distribution sectors.

Source: First Reserve; Reuters