Electrical equipment company Indo Asian Fusegear (IAFL), has sold its switchgear business to Legrand, a French company that specializes in electrical and digital building infrastructures. Legrand bought the switchgear division through its wholly owned subsidiary in India for Rs4.95 billion (US$112 million).
J Sagar Associates managing partner Jyoti Sagar, partner Rohitashwa Prasad and associates Nidhi Sahay and Zain Pandit represented IAFL. Amarchand Mangaldas advised Legrand and Ambit Corporate Finance acted as the exclusive investment bankers on the deal.
IAFL is one of the leading manufacturers of switchgears, lighting products, wires and cables in India. Legrand deals in premium wiring devices and value-added protection systems, used primarily for projects such as offices, hotels, shopping centres, healthcare centres and educational institutions.
