# Greaves Cotton to acquire Excel Controlinkage for Rs 385 crore

Greaves Cotton signed an agreement to acquire 100% of motion-control systems maker Excel Controlinkage for Rs 385 crore in four tranches, with the first 60% tranche to close in FY26.

- Type: Acquisition
- Announced: 2023-02-09
- Where: India
- Value: $47.0M (3.85B INR)
- Status: announced
- Products: heavy-duty push-pull cables, mechanical levers and linkages, electronic throttle levers
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Greaves Cotton](https://endata.com/companies/53271.md) (acquirer)
- [Excel Controlinkage](https://endata.com/companies/68462.md) (target)

## Sources

- [timesofindia.indiatimes.com](https://timesofindia.indiatimes.com/greaves-cotton-to-acquire-motion-control-systems-player-excel-controlinkage/articleshow/97772142.cms), 2023-02-09: "The acquisition is highly profitable and margin accretive at a consolidated level and complements the company's vision to build new competencies and accelerate the growth of clean-tech and last-mile mobility."
- [auto.economictimes.indiatimes.com](https://auto.economictimes.indiatimes.com/news/industry/greaves-cotton-acquires-60-stake-in-excel-controlinkage-the-rest-by-2026-in-3-tranches/97774823), 2023-02-09: "Excel has established itself as one of the leading players in manufacturing of mechanical and electronic motion control systems with integrated manufacturing capabilities in India."

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