Through its subsidiary Suprajit USA Inc.
Suprajit Engineering announced the completion of acquisition of Wescon Controls, Wichita, USA, through its wholly owned subsidiary Suprajit USA Inc, by purchasing 100% outstanding equity share capital from Shell Topco LP managed by a Private Equity Fund - Nova Capital, UK.Wescon Controls is a market leading manufacturer of control cables in the non-automotive Outdoor Power Equipment (OPE) space. It has marquee customers like MTD, Husqvarna, John Deere, TORO, Honda, etc., and is the largest manufacturer of OPE cables in North America.
This transaction was funded by Suprajit's cash balances and debt in an approximate ratio of 50:50. The Enterprise Value of Wescon was estimated at USD 44.4 million.
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