"Craig & Derricott’s specialist switchgear has an unrivalled reputation in key markets around the world and will support our own ambitious plans for expansion in countries such as India, Africa, China, the Middle East and America," says the Victory Group’s managing director, Mahindra Vaddineni. "Our expertise in manufacturing medium-voltage switchgear will synergise with the products being manufactured by Craig & Derricott.

"We will support aggressive new product development pipelines for future growth, which will synergise with existing products, and cater to a wider clientele," he adds. "This is a very exciting time for everyone at the company and an opportunity for rapid growth over the next few years."

Walsall-based Craig & Derricott manufactures switchgear for low-voltage control and safety applications and exports its products around the world. Its customers include Alstom, BAE Systems, Metronet, Bombardier, Siemens and Rolls Royce.

C&D’s new owner, the Hyderabad-based Victory Group is a well-established Indian engineering company which manufactures products for the power industry. Its expertise includes the manufacture of power, distribution and instrument transformers, vacuum circuit-breakers, and surge arresters. It is partially owned by Reliance Capital, a member of the Reliance ADA group.

"Since The Derricott family first started the business 64 years ago we have built a reputation for high-quality specialist switchgear securing a market-leading position across the globe," says Craig & Derricott’s current MD, Gordon Barraclough. "The success of the company has been thanks to the hard work, dedication and engineering excellence of our dedicated and loyal employees. I am proud to have been part of the Craig & Derricott story and I’m confident that its new owners are committed to continuing the traditions of quality and engineering excellence."