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Fuji Electric to acquire Consul Neowatt Power Solutions

Monday, 24 Jun 2019

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Tokyo-headquartered Fuji Electric is set to acquire power electronics manufacturer Consul Neowatt Power Solutions (CNPS) in a bid to expand its power electronics systems business in India.

Fuji Electric has entered into agreement with Peepul Capital Fund III and individual shareholders for the transaction. The transaction deal amounted to Rs 720 crore. CNPS is a manufacturer of uninterruptible power supply (UPS) systems in India with its headquarters in Chennai, Tamil Nadu.

The company supplies power electronic solutions to customers across industry verticals in manufacturing, healthcare, social infrastructure, and other segments requiring power quality solutions.

Post the acquisition by Fuji Electric, the new company is to be named as Fuji Consul Neowatt Power Solutions in which 99.99 percent will be held by Fuji Electric while 0.01 percent will be held by Fuji Electric India.

Fuji Electric is globally developing its core business of power electronics systems and considers India as one of the key focus areas for its global growth plan. Fuji Electric India and Fuji Gemco have factories in Mumbai and Faridabad, respectively.