Diversified engineering firm Greaves Cotton said on February 9 that it would acquire a 100% stake in motion control systems company Excel Controlinkage Pvt Ltd in four tranches by FY26 worth Rs 385 crore.

The company said the acquisition would allow Greaves to build a complementary product portfolio with a common customer base, expand into international markets, and help grow a fuel-independent powertrain portfolio. It will also boost its electric vehicle ecosystem.

Excel deals in mechanical and electronic motion control systems, with comprehensive capabilities in manufacturing push-pull cables, levers and sensors for use in customer segments such as commercial vehicles, construction equipment, agriculture and material handling. These products are supplied directly to most Original Equipment Manufacturers (OEMs) and the aftermarket.

Greaves Cotton closed at Rs 137.30 on the National Stock Exchange, down 0.8% from the previous session.