KEC International To Buy 100% Stake in Spur Infra
Global infrastructure Engineering, Procurement, and Construction (EPC) major, KEC International Ltd. has entered into a definitive agreement to acquire 100% stake in Spur Infrastructure Private Limited on 18th September 2021 for an enterprise value of ₹ 62 crore.
KEC shall fund the transaction through internal accruals, and expected to close within next 60 days.
Spur Infrastructure Pvt Ltd
Spur Infra is an Indian EPC company specialized in setting up Oil & Gas pipelines and city Gas distribution networks all across India. It was incorporated in 2016, and headquartered in Ahmedabad, Gujarat.
Spur Infra’s annual revenue for last three years has been: FY21: ₹ 104 crore, FY20: ₹ 124 crore & FY19: ₹ 132 crore.
Spur Infra has a healthy order book of ₹ 600 crore. Some of it’s major customers are GAIL, IOCL, IGL, Torrent Gas and Bharat Petroleum.
Expressing his views over the acquisition, Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. commented “We launched the oil and gas pipelines EPC business in line with the Government’s thrust in the sector and our strategy to diversify the business portfolio into adjacencies. This acquisition will enable us to accelerate growth in this sector and establish this business as one of our key growth drivers going forward”.
About KEC International Limited: KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) company. It has presence in the verticals of Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines and Cables. The Company is currently executing infrastructure projects in 30+ countries and has a footprint in 105+ countries (includes EPC, Supply of Towers and Cables). It is the flagship Company of RPG Group.