Greaves Cotton Ltd, a leading diversified engineering company, has acquired the remaining 20% stake in Excel Controlinkage Pvt Ltd through the secondary route, making the company a wholly owned subsidiary.
The acquisition was completed on August 13, 2026, taking Greaves Cotton’s aggregate shareholding in Excel Controlinkage to 100%.
Deal completes 2023 acquisition
The transaction completes the multi-tranche acquisition process initiated in 2023 under a definitive agreement signed on April 6 that year.
“The completion of the acquisition of Excel Controlinkage marks an important step in a margin-accretive acquisition that complements our diversification strategy,” said Greaves Cotton, Group CEO and Managing Director, Parag Satpute.
Focus on mobility, industrial growth
Satpute said the company would focus on scaling businesses with differentiated engineering capabilities and opportunities across India’s mobility and industrial ecosystem.
Excel Controlinkage strengthens Greaves Cotton’s presence in commercial vehicles and supports its broader mobility ecosystem strategy.
Excel adds motion-control capabilities
Founded in 1994, Excel Controlinkage develops mechanical and electronic motion-control systems, including push-pull cables, mechanical levers, linkages and electronic throttle levers.
Its products serve commercial vehicles, construction equipment, agriculture, material handling, marine, special-purpose vehicles and aftermarket segments.