Kolkata: Kilburn Engineering Limited (KEL), one of the leading manufacturers of drying equipment for various industries, co-promoted by Khaitan’s, is acquiring M E Energy, a waste heat recovery firm. Kilburn Engineering will raise over Rs 100 crore through preferential allotment to fund the acquisition. The company informed stock exchanges about this on Tuesday.
“Kilburn is acquiring a 100% shareholding in M E Energy for an approximate consideration of Rs 99 crore subject to due diligence. This strategic move aligns seamlessly with Kilburn’s overarching objective of ensuring sustained, profitable growth and fortifying its capabilities, resulting in an enhanced value proposition for shareholders,” said the announcement. As part of this move, Kilburn Engineering will capitalize on the infrastructure of the waste heat recovery firm, bolstering capacity and revenue streams for both firms.
