Blue Star To Acquire Naseer Electricals

Bangalore: Blue Star, the Rs 2,000-crore commercial airconditioning company, is planning to acquire electrical contractor Naseer Electricals for over Rs 100 crore. The company was looking at an established electrical contractor, which can give it access to clients at the conceptual stage when a building is planned. Blue Star said the company was planning to buy Naseer Electricals for backward integration. The Blue Star was getting offers for tie-ups and acquisitions. Blue Star had worked with Naseer Electricals on a few projects in South India. Naseer Electricals has worked with well-known realty developers such as Prestige Group, Brigade, India Builders, executing close to 500 projects for a host of clients such as Motorola, Cisco, HP, Lucent, Wipro, among others. Blue Star looks after the airconditioning needs of corporate and commercial customers and has established itself in the field of commercial refrigeration equipment ranging from water coolers to cold storages.