According to Dipankar Ghosh, CEO, Escorts Auto Products & Escorts Railways Products, "We believe that the transfer of OEM and Export business to Badve Engineering Ltd will help us to focus on our core areas. We are delighted that Badve Engineering Ltd has stepped in to take the business forward."

Speaking on the acquisition, Company Spokesperson Shrikant Badve, Managing Director Badve Engineering Ltd., said, "We are delighted to have acquired a business that has a good market standing and the versatility to produce an extensive range of auto components for various applications."

ICICI Securities acted as transaction advisor for the deal.
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