Predict your next investment

ENERGY & UTILITIES | Electric / Transmission & Distribution
fasttel.com.br

See what CB Insights has to offer

Stage

Corporate Majority | Acquired

Valuation

$0000 

About Fasttel Engenharia

Fasttel is engaged in the engineering, procurement, construction and maintenance of power transmission lines and substation and distribution systems of voltage range up to 750 kV.On February 8th, 2021, Kalpataru Power Transmission acquired a majority stake in Fasttel Engenharia at a valuation of $17.25M.

Fasttel Engenharia Headquarter Location

Rua Alcino Guanabara, 200 - Hauer

Curitiba, 81610,

Brazil

+55 41 3278-4433

Latest Fasttel Engenharia News

Kalpataru Power Transmission’s subsidiary acquires 51% stake in Brazil’s Fasttel Engenharia

Feb 8, 2021

February 8, 2021 Kalpataru Power Transmission Ltd (KPTL) said its wholly owned subsidiary in Brazil has signed a definitive agreement to acquire 51 per cent stake in Fasttel Engenharia Ltd in the South American country, for USD 8.80 million (over Rs 64 crore). According to regulatory filing, “Kalpataru Power do Brasil Participacoes Ltda has signed a definitive agreement to acquire a controlling stake of 51 per cent in Fasttel Engenharia Ltda,Brazil for USD 8.80 million, subject to customary adjustments.”   Fasttel, founded in 1988, specialises in engineering, procurement, and construction (EPC) and maintenance of power transmission lines, substation and distribution systems across various voltage range up to 750 kV, the company added. The company mainly operates into three business areas comprising EPC of substation, transmission and distribution network services with revenue of around USD 47 million in 2020 and has a profitable track record. “The company has a presence in Brazil with an order book of around USD 95 million as on date,” it added. KPTL said the acquisition of Fasttel is in line with its strategy to strengthen its core EPC business and have greater geographical presence in stable and growing markets. The transaction is likely to close by the end of Q1FY22. Commenting on the development, Sanjay Dalmia, Executive Director, KPTL said, “We continue to expand our geographical reach aligned to our vision of being a local player in the global environment. This acquisition of Fasttel is of strategic fit to KPTL in order to capture local market opportunities in Brazil and expand business in Latin American market. “Fasttel has a track record of revenue growth of more than 25 per cent CAGR (compounded annual growth rate) over the last 5 years along with consistent profitability.” KPTL is part of the Kalpataru Group, one of India’s leading conglomerates with interests spanning Real Estate, Power Transmission and Distribution, Civil Infrastructure and Logistics. Ashish Nain

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.