With SAE Towers acquisition, KEC International of India – a Power Transmission EPC company, expands into Latin America

by Dave

MarketWatch

An affiliate of ACON Investments, L.L.C. (“ACON”), a Washington, D.C.-based private equity firm, has signed a definitive agreement to sell 100% of SAE Towers Holdings, LLC (“SAE Towers” or the “Company”) to KEC International Ltd. (“KEC”) of India for US$95 million (excluding working capital adjustments) on a debt-free, cash free basis. Headquartered in Houston, Texas, with production facilities in Monterrey, Mexico and Belo Horizonte, Brazil, SAE Towers is the largest manufacturer of transmission towers in the Americas, with an annual production capacity of 100,000 metric tons. The Company also manufactures steel poles for electrical transmission as well as related hardware. SAE Towers currently has over 800 employees.

SAE Towers was advised by Harris Williams & Co. on this transaction while KEC was advised by Sagent Advisors Inc. and Daiwa Capital Markets India Private Limited.

Mr. Ramesh Chandak, Managing Director & CEO, KEC International Ltd, said, “This acquisition will strengthen KEC’s global leadership position in the large and growing markets of North America and Latin America. SAE Towers has a significant presence in geographic areas which are of substantial interest to KEC.”

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