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KEC International (KEC), part of the Harsh Goenka controlled RPG Enterprises (RPG) has acquired US based SAE Towers. KEC acquired SAE at $95 million (Rs.418 crore) in an all cash deal.
SAE is owned by Washington based private equity firm ACON Investments. SAE is a group of companies incorporated in US, Mexico and Brazil and is one of the world’s leading producers of steel lattice towers for high-voltage power transmission.
KEC was advised by the Mumbai office of Khaitan & Co., whose team was led by Partners Haigreve Khaitan and Kalpana Unadkat. Khaitan worked along with White & Case in US and Mexico, and Machado Meyers in Brazil.
SAE was advised by Hogan Lovells whose team was led by Partner Robert A. Welp
The acquisition aims at increasing the foothold of KEC in North and South America.