Fuji Electric acquired Consul Neowatt Power Solutions from Peepul Capital.

Fuji Electric, a Japanese electrical equipment company, acquired Consul Neowatt Power Solutions, a leading Indian power electronics manufacturer, from Peepul Capital, an Indian private equity firm. Financial terms were not disclosed. With this deal Fuji Electric will expand its power electronics systems business in India, targeting mainly the manufacturing industry and the data center market, which has been booming in recent years, by leveraging CNPS’s network of sales and service centers across the country. FE will also leverage the manufacturing infrastructure and product development capabilities of CNPS for the development of price-competitive products specifically designed for demanding site and power conditions.