Dhoot Transmission to acquire Scottish firm
Aurangabad-based Dhoot Transmission, a manufacturer of automotive electrical components, has agreed to acquire the entire stake of Scotland-based TFC Cables Assemblies for an undisclosed amount.
This will be the third deal for the Indian company, helping it to expand its presence in Europe and gain share in the key automotive components market in Western Europe.
The deal is expected to be first announced on Thursday. Mumbai-based investment bank Singhiii Advisors was the sole advisor. Established in 1999, Dhoot Transmission is one of the leading electrical equipment companies supplying products to the automotive and industrial sectors in India and Europe.
Today, it is a multi-regional multinational company with 13 family operations in Pune, Aurangabad, Chennai, Manesar, Pithampur, UK and Slovakia. The company’s key customers include Volvo, Piaggio, Honda, Bajaj Auto, Royal Enfield, Suzuki and CNH, with revenues of Rs. 6 billion in FY 2017.
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