PR Industrial s.r.l., the Italian subsidiary of Waukesha-Wis.-based Generac Holdings Inc. that builds gen-sets under the Pramac brand, has acquired a majority interest in Captiva Energy Solutions Private Ltd.
Founded in 2010, Captiva Energy Solutions is headquartered in Kolkata, India, and specializes in customized generators. It is an authorized gen-set original equipment manufacturer of Perkins Engines Co. and was owned by The United Group, a diversified industrial company. Captiva has seven sales offices throughout India and more than 100 employees.
“Acquiring a majority interest in Captiva will be a great strategic fit for Pramac as we expand our power generation business footprint into India, one of the largest power generation markets in the world,” said Paolo Campinoti, Chief Executive Officer of PR Industrial SRL Pramac. “In addition, this acquisition will allow us to leverage our gas generator expertise into this growing market.”
Selling into over 150 countries through a broad distribution network, Pramac employs more than 700 people across five manufacturing plants and 17 commercial branches worldwide.
“This is a very exciting transaction for Captiva, as the combination of both companies creates a very strong partnership in the power generation market,” said Arijit Bose, founder and Chief Executive Officer of Captiva. “We are pleased to join the Pramac family and look forward to continued success.”
Bose is expected to remain a key shareholder of Captiva and, along with the company’s management team, will continue to lead the Captiva business.