“The acquisition includes upfront payment, debt and escrow amount payable on fulfilment of certain conditions,” Blue Star Ltd Vice President and Managing  Director Suneel M Advani told reporters here. “Further, the acquisition will will enable Blue Star to carry on business in integrated Mechanical, Electrical & Plumbing (MEP) contracting projects for the commercial building and infrastructure segment,” he added.

Founded by AS Dawood, Bangalore based  Naseer Electricals  marked a turnover of Rs 107 crore for  FY’07.   He has been retained as a corporate advisor for the new entity. “Blue Star, which has 35 per cent market share in the central airconditioning market in India, with this acquisition, hopes to achieve a similar share in the electrical contracting market within two years, ” Mr Advani  said.