Electrical Equipment Company Seeks New Products and Markets in India

Electrical Equipment Company Seeks New Products and Markets in India
Electrical Equipment Company Success in India

Client Challenge

The CEO of a private $220 million electrical equipment manufacturer came to Amritt after he and the board realized that growth in the U.S. market would be limited to 1-2 percent at best over the next five years. They sought opportunities to invest retained earnings into market development and targeted acquisitions in India, which they knew was a growing market for them.

Amritt-Client Process

We took a two-pronged approach to evaluate the best course of action for the client:

  • Find professionally-managed companies in related product lines that had both Indian and overseas growth ambitions and sought not just expansion capital but non-monetary value in allying with an American company.
  • Locate and evaluate 4-8 “anchor” end-customers that could buy the products directly from Amritt’s client.

The CEO, the largest stockholder and the head of sales and marketing, visited three key cities in India at the conclusion of Phase 1 of the project.

Impact

Two of the five anchor customer candidates visited by the teams of Amritt and the client decided that the client’s product offering was superior to their current solution and decided to do business with the client.

The client also made two acquisition offers to companies based in Delhi and Bangalore respectively. They were outbid in both instances by French and Korean entrants; the client’s stockholders determined that they did not want to wage an international bidding war. Amritt agreed, and recommended one of the other candidates as a niche distributor for the client’s new product line. At last word, this distributor had achieved success for the client not only in India but also in Dubai and the Persian Gulf States from his Mumbai location.

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