Advisor to Sterling & Wilson in Selling a Minority Stake to Goldman Sachs.

The MEP market in India is at an inflexion point. Although highly fragmented, the overall market is expected to grow at more than 20% per annum for the next few years and is fast moving towards consolidated MEP packages, resulting in the expected growth rate of consolidated MEP orders to be north of 40% per annum. With the increase in sizes of real estate projects, sizes of MEP contracts are also going up and currently, there are only a handful of players in India that have the ability to service such large contracts.

S&W is one of the few players and has a pan India presence, supported by a strong execution team of more than 2,500 employees. In last 5 years, the professionally managed Company has demonstrated an annual growth rate of more than 80%. To capitalize on its track record of executing projects in countries like Ghana, Mauritius, Vietnam etc., the Company has recently started a subsidiary in UAE. S&W was established in 1927 as Wilson Electricals and in 1974 renamed as Sterling & Wilson Electricals Pvt. Ltd. (S&W). In the last 3 years, S&W has executed over 700 projects and won repeat business and maintenance contracts from most of the leading Indian business groups. The Company has built a brand equity in the Indian contracting sector over a period of time and has increased its scale of operations.

Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.