Crompton Greaves (CG), part of $ 4-billion Avantha Group, has acquired UK-based Power Technology Solutions (PTS)for 30 million pound. This is CG?s sixth acquisition in a span of five years. Crompton Greaves is engaged in designing, manufacturing and marketing electrical products and services related to power generation, transmission and distribution, besides executing turnkey projects. On Tuesday, Crompton Greaves shares closed at Rs 258.4, up 2.32% on the BSE.

Established in 1999, PTS is a high voltage electrical engineering company which provides consultancy, technical and engineering support to regional electricity companies.

SM Trehan, managing director, Crompton Greaves, said, ?At CG, we are always exploring opportunities of growth and expansion that offer a strategic fit and right value. With the acquisition of Power Technology Solutions, CG will gain significant consolidation in the engineering, procurement & maintenance (EPM) segment in the UK and get access to newer markets. This acquisition is a step forward towards achieving our revenue goal of $ 8 billion by 2015.?

Gautam Thapar, chairman & CEO, Avantha, said: ?CG is one of the country?s most globalised companies, with half its assets and more than 50% of its sales coming from abroad. This strategic investment will contribute as much to CG?s product portfolio as it will to our overall growth plans.?

CG?s previous buys during the last five years were Pauwels (2005), Ganz (2006), Microsol (2007), Sonomatra (2008) and MSE Power Systems (2008).