Shriram EPC acquires 55% in BGT

Shriram EPC (SEPC), one of the leading engineering, procurement and construction (EPC) service provider, has acquired 55% in Blackstone Group Technologies (BGT), a Chennai-based engineering consulting firm for an undisclosed amount. Shriram EPC MD & CEO T Shivaraman said, “The acquisition will help us to consolidate our position as a leading provider of engineering services and provide synergies across business lines of biomass power plants and pipe rehabilitation.” SEPC has the option to acquire the balance equity after three years. BGT India director S Egbal will continue to head the organisation. Mumbai-based Singhi Advisors were exclusive advisors to BGT for the transaction.