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Elgi Compressors USA Inc, a subsidiary of Elgi Equipment, entered an operating agreement to acquire a 33.33% stake in CS Industrial Services LLC, its exclusive distributor for ELGi compressors in Western New York, for about $125,000. Completion is expected by 31 March 2023.
Elgi Equipments' wholly-owned subsidiary Elgi Compressors USA Inc formed a joint venture company with Bryan Becker, managing partner of the LLC, on 19 March 2020, disclosed to exchanges on 11 May 2020.
ELGi Compressors USA, a subsidiary of ELGi Equipments, acquired Michigan Air Solutions, an independent air compressor distributor with locations in Grand Rapids and Plymouth, Michigan.