Ravicab Cables Private Limited announces the acquisition of Leoni Cable Solution India Private Limited (LCSI), Pune, a fully owned subsidiary of Leoni AG. The acquisition is a win-win situation for both companies.
September 13, 2022
Ravicab Cables Private Limited announces the acquisition of Leoni Cable Solutions India Private Limited (LCSI), Pune, a fully-owned subsidiary of Leoni AG. The acquisition of LCSI by Ravicab provides an expansion in market reach, extension in the product range, and finds a perfect synergy with the growth aspirations of Ravicab. For the acquired business, this means a clear perspective for future development in terms of investment and growth. LCSI had a turnover of EUR 24.5 million in 2021.
With this acquisition, Ravicab Cables would have a strong foothold in the important project business in the western part of India. Ravicab with the acquisition of LCSI also has leverage in the speciality products business of renewable energy and railways. Ravicab has also inherited LCSI’s processes and systems for manufacturing specialised cables and iconic brands like “Kerpen” and “Icon”.
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Announcing this, Mr. Hemant K Mehta, Managing Director, Ravicab Cables Private Limited, said, “The agreement with Leoni AG to purchase the shares of Leoni Cable Solutions India Pvt. Ltd. (LCSI) is beneficial to all stakeholders and reflects Ravicab’s strong aspiration to further strengthen its market position. It’s a great opportunity for Ravicab to be able to acquire a unit set up with best-in-class infrastructure with best available machinery and major approvals in place to expand the business at high growth rates.”
“For the Wiring Cable Solution (WCS) units put up for sale due to our strategic focus on the automotive industry, it has always been our goal to find investors, who want to strategically develop the products and services. I am confident that we have succeeded in doing so with Ravicab,” said Mr. Jerry Cummins, WCS Top Management, Leoni WCS.
