Engineering solutions provider ELB Group is set to leverage the synergies between it and electrical and instrumentation company B&W Instrumentation and Electrical, the acquisition of which ELB is busy concluding.
ELB, which had issued over 1.96-million shares as consideration for the acquisition of B&W, said in a statement on Tuesday that B&W joined ELB Group with a “sound order book” and the group planned to “take advantage” of project opportunities.
“There is a good cultural fit between the two organisations and the acquisition offers B&W the opportunity to be part of a larger group and bring to ELB Group the many years of B&W management experience, which will ultimately benefit the current and future customers that both organisations serve,” ELB said.
As the parties served similar industries, the acquisition was expected to create improved efficiencies and long-term sustainability for the combined group of companies.