Deal Announcement -Saatvik Green acquires majority stake in Melcon Transformers; Accomplir acts as exclusive sell side advisors to Melcon
Accomplir was the exclusive transaction advisors for Melcon Transformers on the majority sale of its transformer business to Saatvik Green Energy Limited a BSE and NSE listed solar EPC major. Accomplir's fourth deal in the Power and Steel sector.
Accomplir is happy to announce that it has acted as the exclusive transaction advisor to Melcon Transformers in the majority sale of the transformer business to Saatvik Green Energy Limited. This deal marks Accomplir’s fourth deal in the Power and Steel sector.
Saatvik Green Energy Limited, a BSE/NSE listed company with a market cap of ~ INR 6000 Cr (founded 2015) is one of the leading companies involved in solar EPC services and a manufacturing capacity of 4.8 GW solar modules in Ambala, Haryana. They specialize in high-efficiency MonoPERC Bifacial/Monofacial modules and are expanding with a new integrated facility in Odisha.
Melcon, started in 1991 by a first-generation technocrat entrepreneur, is a 35-year-old company that makes power, distribution, and special purpose transformers including solar inverter transformers from its facility in Alwar, Rajasthan. The company has served all major Indian PSUs and global EPC players in its 3+ decades of experience.
The deal marks Saatvik’s first acquisition and its foray of into the fast-growing transformer space, deepening its integration in the solar EPC segment, while giving the promoters of Melcon a profitable pathway to exit after a very successful three decade run in the industry.
The transformer space in India has seen multiple deals in the last year, owing to massive demand, driven by an urgent need for grid modernization to support 500 GW of renewable energy by 2030, industrial expansion, and rising power consumption. This surge is further intensified by massive government infrastructure projects, railway electrification, and data center growth. hub
This is Accomplir’s third deal in the emergent space of succession led M&A in India, and is happy to handhold and advise promoters in readying and realizing their life’s work, for the next phase of growth. Ashish Rathi (Founding Partner, Accomplir), Zeenath Jahaan (Partner, Accomplir), and Raghav Saraogi (Senior Associate) led the efforts from Accomplir.