Friday, May 25, 2007

RSM Equico on the prowl for acquirers

RSM Equico, an investment banking arm of US-based H&R Block, a $7 billion, Fortune 500 financial services company, is seeking local participants to join its “buyers’ pool”. A buyers pool refers to the collection of potential acquirers.

Hector J Cuellar, president, RSM Equico, is now making pitches to five dozen local industrialists in five days in a bid to enlist them into the buyers pool for close to 200 mergers & acquisition proposals from US medium-sized companies they have in the pipeline.

So far, RSM Equico has never had an Indian in its buyers pool till one of its accounting and consulting units operating in India informed that Batlilboi Ltd, the machine-tool maker and engineering services firm, was on the lookout. RSM Equico steered Batliboi’s acquisition of Quickmill Inc, a Canadian CNC lathe machine maker, for Rs 22 crore on March 27.

Source: DNA Money

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