On an expansion spree in the North American market, Mumbai-based machine tool and engineering company, Batliboi Ltd has acquired Canadian firm Quickmill Inc to leverage on the latter's distribution network and research and development capabilities.
The 100 per cent equity acquisition deal is estimated at Rs 22 crore and is the first foray by Batliboi into the mergers and acquisition space.
Batliboi primarily manufactures machine tools, specialised machines, textile air engineering machines and air conditioners at its Surat and Bangalore facilities. The company's clients include textile manufacturers, automobile manufacturers like TVS, Honda, Mahindra and Mahindra and power makers like BHEL besides hotels which use its air conditioners and refrigerators.
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