Quality Power Electrical Equipments Ltd (QPE) announced that it executed a term sheet to acquire 100 per cent of the equity share capital of Winwin Speciality Insulators Ltd
The transaction is subject to customary due diligence, statutory and regulatory approvals, and other closing conditions, and is expected to be completed within three months, a release by QPE said.
Rationale
The acquisition, with an estimated enterprise value of Rs.315 crore, strengthens Quality Power’s high-voltage product portfolio at a time when global capital deployment into transmission networks, substations, HVDC corridors, renewable-energy evacuation and grid modernization is accelerating.
A strategic manufacturing platform
Winwin Speciality Insulators Ltd (WSIL) owns and operates a fully-automated insulator manufacturing facility in the Atchutapuram Special Economic Zone near Visakhapatnam, Andhra Pradesh.
The facility is capable of manufacturing high-voltage ceramic insulators up to 1200 kV, with an installed capacity of approximately 18,000 tonnes per year, as well as polymeric insulators up to 400kV, produced to IEC, ANSI and IS standards. It is situated on approximately 47.7 acres within a prime industrial corridor, with strategic access to both Visakhapatnam Port and Gangavaram Port.
W.S. Industries (India) Ltd, in 2022, sold its Visakhapatnam insulator unit (known as Unit-II) to Winwin Speciality Insulators Ltd. Post the divestment, WS Industries now functions as an EPC company.
Over six decades of legacy
The plant carries forward the legacy of the WS Insulators brand, one of India’s most established names in electro-porcelain insulators, with origins dating back to 1961, when the business was incorporated as WS Insulators of India. Across more than six decades, the brand has served utilities, OEMs and EPC customers across approximately 55 countries, building a product heritage spanning suspension, solid core, hollow, pin and disc insulators.
Strategic growth area
According to Bharanidharan Pandyan, Joint Managing Director, Quality Power Electrical Equipments Ltd, “Winwin Speciality Insulators brings together what cannot be built overnight: a high-voltage insulator manufacturing platform, the legacy of the WS Insulators brand built over six decades since 1961, global product qualifications, and a substantial industrial land parcel in one of India’s most strategic port-linked manufacturing corridors. Its automated systems and European-origin process technology provide a strong foundation on which to build a world-class insulator business. As the world invests heavily in grid expansion, renewable integration and HVDC infrastructure, we believe insulators will become an important strategic growth area for the company.”
Acquisitions by QPE
- 2011: Acquisition of 51 per cent equity stake in Endoks Enerji Anonim Sirketi, Turkey
- 2019: Acquisition of 100 per cent equity stake in S&S Transformers & Accessories Pvt Ltd
- 2022: Takeover of Electric Power Equipment Company, Bengaluru
- 2022: Acquisition of 15.45 per cent equity stake in Chennai-based Nebeskie Labs
- 2025: Acquisition of 51 per cent equity stake in Mehru Electrical & Mechanical Engineers Pvt Ltd
- 2025: Increased equity stake in Nebeskie Labs to 25 per cent
- 2025: Completed the acquisition of 50 per cent equity stake in Sukrut Electric Company Pvt Ltd, with Yash Highvoltage Ltd holding the remaining 50 per cent.
- 2025: Acquired 76 per cent equity stake in Gandhinagar-based Veeral Controls having over three decades of experience in high current power electronics and industrial power conversion systems.
- 2026: Proposed acquisition of 100 per cent equity stake in Winwin Speciality Insulators Ltd