Wilbur Ross-owned IAC eyes acquisitions in India to double business_Wilbur Ross-owned IAC eyes acquisitions in India to double business

Wilbur Ross-owned IAC eyes acquisitions in India to double business

May 21, 2024

Mumbai: Wilbur Ross Its International Auto Parts Group is an in-house specialist for automakers. The group is exploring acquisition opportunities to expand its manufacturing capabilities and regional coverage in India to meet the growing orders and business growth of Indian automakers.

IAC is keen on acquiring companies close to Chennai or Sanand, Gujarat for quick access to automotive manufacturing centers and ready-made orders.

Gajanan Gandhe, Managing Director and Vice President, Africa and South Asia, IAC India According to an internal presentation, after years of building new facilities, the plant is close to full capacity.

The new IAC facility will be built as the company wins new business. “We will definitely grow faster than the market. We don’t want to start from scratch as the acquisition of North has given us the opportunity to work with Suzuki. We may look at going to Chennai or Sanand.

In 2011, IAC acquired Manesar-based Multivacc India Private Ltd. leading to Motherson’s Motherson Sumi noting that India has grown at a CAGR of 18% over the last three years and has worked on 24-30 projects with various automakers.

Sources close to the matter said that IAC would need at least Rs 100-150 crore from India as it is not just a component supplier but a complete solution provider that requires investment in R&D resources. Gandhi, however, declined to comment on the scale of investment required.

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