Aurangabad-based auto electric component maker Dhoot Transmission has agreed to acquire the entire stake in TFC Cables Assemblies, Scotland, for an undisclosed amount.
The transaction, which would be the third by the Indian firm, will help the company expand its presence in Europe and get access to key auto component markets in Western Europe.
The deal is expected to be announced as early as Thursday. Mumbai-based investment bank Singhi Advisors was the sole advisor. Set up in 1999, Dhoot Transmission is one of the top electrical equipment companies, supplying products to automotive and industrial sectors in India and Europe.
It is today, a multi-locational, multi-country business entity, with 13 units across Pune, Aurangabad, Chennai, Manesar, Pithampur, the UK and Slovakia. The company counts Volvo, Piaggio, Honda, Bajaj Auto, Royal Enfield, Suzuki, and CNH among its top clients and has reported a revenue of Rs 600 crore in FY17.
Source: Economic Times