EPIC Energy Acquires Energy Saving Devices Company SRS Engineers

EPIC Energy Ltd has announced that the Company has acquired the entire business of SRS Engineers (SRS) a boutique Power Electronics & Energy Conservation firm operating from Coimbatore, Tamil Nadu. SRS was founded by Mr. P Senthilkumar, Mr. A Raamasami and Mr. P Sampathkumar.

This is third acquisition made by the Company in the last 2 quarters after acquiring all energy devices manufacturer in Por, Gujarat and Bangalore-based Hydragen Infrastructures.

SRS Engineers, an ISO 9001:2000 Company, is a leading manufacturer of Street Light (Automatic Switch - Timer Based) Controllers and other Voltage-Control Devices and Power Saving Switches. SRS's hallmark has been the innovative expertise of its people, anticipating and then supporting the new & ever changing Power Electronics and Energy Conservation Devices markets.

The acquisition makes a lot of synergistic sense to the Company since Street Light Controllers and Power Saving switches form an integral part of the products presently being offered by the Company. Also, the addition or the erstwhile partners of SRS to the senior management of the Company is expected to substantially increase the management bandwidth and execution capabilities of the Company. Mr. P Sampathkumar will take over as Head - Research and Development of Epic and Mr. R Senthilkumar will head the South India operations.

SRS has successfully implemented projects in Coimbatore, Cudalore, Erode, Karur, Ramanathapuram,, Nagapattinam, Pudukkottai, Thanjavur, Thiruvallur, Virudhunagar and Theni districts of Tamil Nadu. It has also successfully undertaken Power Saving Projects for Coimbatore, Madurai, Thirunellivalli and Pollachi Muncipalitles and for the Tamil Nadu Slum Clearance Board.

Along with the acquisition current projects in hand bagged in the first quarter of 2007-08 by SRS will now be executed by the Company which translates into an immediate business of Rs. 1.75 crores.

Source : Equity Bulls

Keywords