# Kirloskar Oil Engines to acquire 76% of La-Gajjar Machineries pump maker

Kirloskar Oil Engines will acquire a 76% stake in Ahmedabad-based electric pump maker La-Gajjar Machineries at 7.89 times EBITDA, with the remaining 24% to be bought over five years; the amount was not disclosed.

- Type: Acquisition
- Announced: 2017-06-21
- Where: Ahmedabad, India
- Status: announced
- Products: submersible pumps, mono block pumps, Varuna and Raindrop pump brands
- Sectors: [Pumps and Valves](https://endata.com/sectors/pumps-valves.md)

## Companies

- [Kirloskar Oil Engines](https://endata.com/companies/1636.md) (acquirer)
- [La-Gajjar Machineries](https://endata.com/companies/1637.md) (target)

## Sources

- [timesofindia.indiatimes.com](https://timesofindia.indiatimes.com/business/india-business/kirloskar-oil-engines-to-acquire-la-gajjar-machineries/articleshow/59255685.cms), 2017-06-21: "KOEL ... today announced to execute a definitive agreement to acquire 76 per cent stake in LGM at a valuation of 7.89 times EBITDA"
- [constructionworld.in](https://www.constructionworld.in/energy-infrastructure/oil-and-gas/Kirloskar-Oil-Engines-to-acquire-La-Gajjar-Machineries/18083), 2017-07-04: "KOEL has executed a definitive agreement, on June 21, 2017, to acquire 76 per cent stake in La-Gajjar Machineries (LGM)"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.