Avendus Capital Advises Advanced Systek on Sale of Majority Stake to GE.

Advanced Systek, the Vadodara based leading player in terminal automation and metering skid solutions in India, today announced the sale of a majority stake to GE. The current shareholders and GE have entered into agreements pursuant to which the promoters of Advanced Systek would continue as directors in the combined entity and work with GE to grow the current business.

Avendus Capital and Shah Sanjeev & Associates were the financial advisors to Advanced Systek for this transaction

Deal Value

Undisclosed

Service

Mergers & Acquisitions

Sector

Industrials

Date

March 2012

This transaction is a confirmation of the strong franchise we have built over the years and our leadership position in the terminal automation and metering skid solutions space. Association with GE will provide a larger platform for us to deliver our traditional solutions and build on synergies to explore newer areas for growth

Umed Fifadra

Joint Managing Director, Advanced Systek

We have worked with marquee customers like HPCL, BPCL, IOCL in India and post this association with GE, we look forward to working with global customers, while enhancing our engagement with the Indian customers on the back of GE’s product portfolio and knowledge

Mukesh Kapadia

Joint Managing Director, Advanced Systek

This transaction showcases the trend of high quality Indian companies continuing to attract global partners and our capability to work with such teams in achieving strategic objectives. This is our second transaction in the Oil & Gas ancillaries sector this year and we continue to focus on this industry

Preet Mohan Singh

Executive Director & Head Industrials Group, Avendus Capital Pvt. Ltd.

About Advanced Systek

Advanced Systek Pvt. Ltd. (AST) is the market leader in providing Terminal Automation systems and metering skids in India, with a growing international presence. With project management expertise and specialized knowledge of the Oil & Gas measurement industry, AST provides total solutions to customers, allowing them to accurately measure, automate and control the distribution of their products from refineries to the end users AST's automation systems provide solutions for pipeline transfer/storage & distribution of chemical, petrochemical and petroleum products in road tankers, rail wagons and barges at distribution depots, marketing terminals, refineries, ports, and retail outlets in India and abroad, most of which operate 24 hours a day. Systems include electronic flow measurement devices and automation software that control and account for every drop of product that is moved into and out of the terminals, whether its by truck, railcar, marine vessel, or pipeline.