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Blue Star to acquire D S Gupta Construction Pvt Ltd

Blue Star to acquire D S Gupta Construction Pvt Ltd
PTI
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First Published: Mon, May 31 2010. 06 22 PM IST
Updated: Mon, May 31 2010. 06 22 PM IST
Mumbai: Central air-conditioning and commercial refrigeration major, Blue Star, is planning to acquire D S Gupta Construction Pvt Ltd, the largest independent plumbing and fire-fighting contracting company in India as a going concern, the company said on Monday.
The company has not revealed the cost of acquisition but has informed that details including consideration for acquisition would be announced after the closing of the deal by 15 July.
A press note by the company said the proposed acquisition would “fortify an important pillar in the company’s integrated mechanical, electrical, plumbing & fire fighting (MEP) contracting offerings”.
The promoters of D S Gupta Construction will continue to manage the business for the foreseeable future even after the acquisition, it added.
The company said customers prefer an integrated MEP contractor rather than several independent vendors. It acquired Naseer Electricals in early 2008 to add electrical contracting capabilities and began offering integrated MEP services across the country.
The company said it also thought it prudent to acquire these capabilities inorganically through a strategic acquisition to leverage the growth opportunities available.
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First Published: Mon, May 31 2010. 06 22 PM IST