ELGi Equipments’ subsidiary ELGI Compressors which entered the US market in 2012 has firmed its footing recently in the North American market by acquiring Michigan Air Solutions which is one of the largest independent air compressor distributors in Michigan.
This move adds great value to ELGi’s vision to become the 2nd largest air compressor manufacturer in the world by 2027. It must be mentioned that ELGi is in more than 100 countries and the company recently won the Deming Prize for Excellence in Total Quality Management.
Announcing the acquisition via a video conference, Dr.Jairam Varadaraj said that the cost of the acquisition of Michigan Air Solutions was 6 Million USD (Roughly Rs.42.44 Crores) . He stated that the company is not a stranger to ELGi. In fact it has been a distributor for ELGi products for a good deal of time and they share good relationship. He mentioned that Michigan Air Solutions’ name carries a strong consumer portfolio and it will add value to ELGi.
Michigan Air Solutions product portfolio encompasses all compressed air needs like compressors, dryers, filtration, piping, vacuum pumps, blowers and more. It was learned in the event that there would not be any reduction in the workforce due to this acquisition move.