Sirius has over 75,000 chargers working in India and overseas
Sun Tyre & Wheel Systems, part of TVS Group of India, has acquired Sirius Controls.
The acquisition of Sirius extends the range of products offered by SUN-TWS to the materials handling segment.
Sirius Controls was set up in 1986 to produce chargers for flooded lead acid,
VRLA, and lithium batteries used in materials handling equipment, and commands an overwhelming share of all OEMs in India.
This acquisition will help both companies capitalise on the synergies within the materials handling space, according to Uday Kiran, vice president of SUN-TWS.
"Our mission is to play a strong and integral role in the materials handling segment
globally and this acquisition initiates our next step towards our mission. Sirius syncs perfectly with our business goals and ethical values. There are several synergies we expect to draw upon to enhance our combined presence in the materials handling segment, making SUN-TWS stronger."
Sirius is expected to integrate seamlessly within the SUN-TWS OneSource portfolio and thereby expand its network globally, according to a company statement.