First Reserve to buy Crompton Greaves' power transmission division

First Reserve said May 9 that it has agreed to acquire a subset of the international power transmission and distribution division of Crompton Greaves Ltd. Financial terms weren’t announced. Pierre Bastid, former Chairman and CEO of Converteam, is investing in the deal. The acquired division, which is expected to be rebranded as Pauwels, makes transformers and switchgears, as well as provides systems across the transmission and distribution space.

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