New Delhi, June 10 -- Sangli-based high-voltage equipment maker Quality Power Electrical Equipments Ltd has agreed to acquire Winwin Speciality Insulators Ltd (WSIL) at an enterprise value of about Rs 315 crore ($33 million), the company said on Wednesday.
The transaction is subject to customary due diligence and regulatory approvals and is expected to close within three months.
Winwin Speciality Insulators was incorporated in 2019 to house the insulator manufacturing unit, which listed conglomerate WS Industries (India) Ltd divested in 2022.
The acquisition will give Quality Power control of the heritage WS Insulators brand, which dates back to 1961, along with WSIL's fully automated manufacturing facility in the Atchutapuram Special Economic Zone (SEZ) in Andhra Pradesh.
The plant, modernized with European-origin process technology, has an installed capacity of around 18,000 metric tonnes per annum. It manufactures high-voltage ceramic insulators up to 1,200 kV and polymeric insulators of up to 400 kV to IS (Indian Standards), IEC (International Electrotechnical Commission) and ANSI (American National Standards Institute) standards. The facility is spread across a 47.7-acre industrial land parcel with access to the Visakhapatnam and Gangavaram ports, providing scope for phased capacity expansion.
Over the past six decades, the WS Insulators brand has served utilities, original equipment manufacturers (OEMs), and engineering, procurement and construction (EPC) customers across 55 countries.
Quality Power said the proposed acquisition will provide access to the brand's customer approvals, type-test records and utility qualifications.
"Winwin Speciality Insulators brings together what cannot be built overnight: a high-voltage insulator manufacturing platform, the legacy of the WS Insulators brand built over six decades since 1961, global product qualifications, and a substantial industrial land parcel in one of India's most strategic port-linked manufacturing corridors," said Bharanidharan Pandyan, joint managing director of Quality Power.
Through the proposed deal, Quality Power aims to expand its addressable market and deepen engagement with utilities, OEMs and EPC customers. The company, which serves customers in more than 100 countries, said it plans to support WSIL with operational expertise, working capital and phased capacity additions.
The proposed acquisition comes amid rising global investments in power transmission networks, HVDC (high-voltage direct current) corridors and renewable energy grid integrations.
It is also the latest in a series of acquisitions by Quality Power across the high-voltage equipment value chain. In 2025, the company acquired a 51% stake in instrument transformer maker Mehru Electrical and Mechanical Engineers, and also acquired Sukrut Electric Company jointly with Yash Highvoltage Ltd through a 50:50 joint venture. Earlier deals include the acquisition of TTDI Pvt Ltd and Electrical Power Equipment Company in 2022.
Published by HT Digital Content Services with permission from VC Circle.