PCL takes majority stake in Dutch company
Emoss to capitalize on Indian financial bandwidth
Pune’s global exporter Precision Camshafts Ltd. (PCL) has taken a 51% stake in Dutch electric mobility company, Emoss Mobile Systems, for access to mature electrical mobility markets such as Europe, North America and Australasia.
The acquisition, the company’s third in last eight months, was through wholly-owned Dutch subsidiary, PCL (International) Holding.
Emoss has visibility to scale business five times in four years and is in line with its long-term growth strategy.
Emoss posted a turnover of Euro6 million in 2017 and grew at a CAGR of over 100% in the last three years.
The 17 May 2018 acquisition was at Euro7.358 million (Rs.58 crore) which has been funded through a combination of loan sanctioned by Bank of Baroda, London and investments made by PCL through its internal generation in PCL Netherlands.
Emoss promoters will continue holding 49% and remain actively involved in day to day activities.
Emoss will capitalise on the financial bandwidth of PCL for its working capital requirements to drive future growth.
PCL’s a global sales and engineering network, close relationships with leading OEMs and strong know how in lean manufacturing will help Emoss scale rapidly.
PCL exports 78% of its total production to five continents and caters to approximately 9% of the global market.
Emoss is a renowned manufacturer and supplier of complete integrated electric drivelines for trucks and buses to leading OEMs and end-users including DSV, Ferrovial, Geesink Norba, Heineken, Mellor and Waste Management New Zealand.
Emoss is a one-of-a-kind business that designs, develops, produces and supplies complete electric powertrains for trucks, busses, military vehicles and heavy equipment.
The Emoss business model includes conversion of diesel trucks into ready to use electric trucks within a short span of 90 days. The company also manufactures “ready to assemble modular kits” which are assembled onto the chassis by the end customer.
Both the equipment and the software are extensively tested before they hit the road, resulting in reliable and durable products.
With over 10 years of experience in the electric driveline space, Emoss is leading the industry and is ready for rapid changes in electrical mobility and the interrelated growth in demand.
Located in The Netherlands, with the Port of Rotterdam nearby, Emoss also has a strategic position to ship their products worldwide.
PCL is one of the world’s leading manufacturer and supplier of camshafts, a critical engine component, in the passenger vehicle segment.
The company supplies more than 150 varieties of camshafts for passenger vehicles, tractors, light commercial vehicles and locomotive engine applications. fii-news.com