Victory Group acquires British company

Hyderabad-based electrical equipment manufacturer Victory Group has taken over Craig and Derricott, a 64-year-old electrical switchgear manufacturer of UK, for an undisclosed sum.

Victory Group is partially owned by Reliance Capital, a company belonging to the Reliance Anil Dhirubhai Ambani group.

It specialises in the manufacture of power distribution and instrument transformers, vacuum circuit breakers, surge arresters and electro-procelain products.

"We could not be more delighted to welcome Craig and Derricott into the Victory Group. Their specialist switchgear has an unrivalled reputation in key markets around the world and will support our own ambitious plans for expansion in countries such as India, Africa, China , the West Asia and America," Victory Group managing director, Mahindra Vaddineni, stated in a press release here on Thursday.