PR Industrial (Pramac), a subsidiary of Generac holdings, has acquired a majority interest in Captiva Energy Solutions, an Indian company specializing in customized generators. Captiva, headquartered in Kolkata, has seven sales offices in India.
“Acquiring a majority interest in Captiva will be a great strategic fit for Pramac as we expand our power generation business footprint into India, one of the largest power generation markets in the world,” said Paolo Campinoti, Pramac CEO. “In addition, this acquisition will allow us to leverage our gas generator expertise into this growing market.”
“This is a very exciting transaction for Captiva, as the combination of both companies creates a very strong partnership in the power generation market,” said Arijit Bose,” founder and CEO of Captiva. “We are very pleased to join the Pramac family and look forward to continued success.”
Bose will remain a key shareholder of Captiva and will continue to lead the Captiva business along with the company’s existing management team.
Pramac has been a manufacturer of stationary and mobile generators for a variety of commercial and industrial applications primarily sold under the Pramac brand. The company also has aline of material handling equipment under the Lifter brand.