AXISCADES Technologies Ltd. (AXISCADES), a global leader in engineering solutions, announces the successful completion of its strategic acquisition of EPCOGEN Private Limited. This acquisition marks a pivotal moment for both companies, with AXISCADES acquiring EPCOGEN at INR 26.25 Crores, with an additional 3-year earnout of INR 7 Crores based on performance. The move underscores the company’s commitment to driving engineering excellence and innovation in the energy sector.
EPCOGEN, headquartered in Hyderabad, India, brings a wealth of expertise primarily specializing in Oil & Gas, Refineries, Petrochemicals, and Renewable Power. The company boasts extensive proficiency in intricate project engineering and end-to-end project execution. Notably, EPCOGEN is at the forefront of innovative solutions with a focus on climate-conscious emission control, exemplified by their expertise in tail gas treatment plants for refineries. Additionally, the company leads in the design and implementation of cutting-edge, long-duration energy storage solutions, showcasing a commitment to pioneering advancements in sustainable energy technologies, according to the statement.
The strategic alliance is poised to significantly enhance AXISCADES’ footprint in the comprehensive energy sector. Through a partnership with EPCOGEN, AXISCADES aims to fortify its position in the energy markets of the Middle East and North America. This strategic move extends beyond mere market penetration, as the acquisition not only opens doors for cross-selling among AXISCADES’ established Oil & Gas clientele and industrial product customers but also positions the company to capitalize on valuable diversification opportunities, the statement said.
Arun Krishnamurthi, the CEO and MD of AXISCADES, while commenting on the acquisition said, “The acquisition of EPCOGEN seamlessly aligns with our growth objectives in the energy sector. This strategic move not only augments our competency but also propels our expansion as a service provider into the global energy industries. We are confident that integrating EPCOGEN’s capabilities with AXISCADES will fortify our presence in complex project engineering and execution. By leveraging EPCOGEN’s substantial growth potential and profound market knowledge, we anticipate a synergistic partnership that positions us at the forefront of innovative solutions and strengthens our commitment to excellence in the global energy landscape.”
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.