Corporate Advisors LLP, an affiliate of Kanu Doshi Group KDA, advised Remsons on the transaction. DBS LLP acted as legal advisor to Remsons on this transaction.

Mumbai: Automotive cable supplier Remsons Industries UK Magal on Friday announced the acquisition of Cables Ltd, a part of Arlington Group Engineering Systems. Remsons Remsons, through its wholly owned subsidiary Holding Ltd (registered in the UK), is a 3.3% subsidiary of Cables Ltd. registered) for 3.3 MCL for Rs 100 crore, financed by internal accruals and debt.

Magal Cables Ltd (MCL) has a manufacturing facility at Stourport, near Birmingham, with a state-of-the-art technology center, testing and validation laboratory. The company manufactures control cable assemblies, pedal box systems, spare tire winches and jacks for Ford, Jaguar Land Rover, Daimler, Renault, Volvo and many other companies around the world including the UK, Europe and the USA.

Kejriwal, Remsons President and Chairman This means that Remsons has taken a big step forward by acquiring Magal Cables Ltd.

“This acquisition will give us access to global OEMOEMs and markets where our in-house team will be working with long term OEMs Kejriwal added that the partners have made new connections and further improved efficiency and good design.

Despite the disruption in demand in the domestic automotive market and the global impact of the new Crown Pneumonia (COVID-19) In the midst of the outbreak, Remsen’s sales have grown by 10% in the last two years. Kejriwal I believe this acquisition will further contribute to growth.

KDA Corporate Advisors LLP, part of the Kanu Doshi Group, advised Remsons on this transaction. DBS Legal provided legal advice on the transaction.

The Arlington Group comprises three main business units, Thermal Management, Engineered Systems and Temperature Control. Although the group is in receivership in May 2020 due to financial constraints, Magal Cables Ltd. remains one of the few profitable businesses in the group. For the year ended March 31, 2020, MCL reported standalone revenue of £8.6 million and EBITDA of 15%.

Amit Srivastava, CEO of Remsen Group The acquisition frees up the company’s manufacturing space through technological advances and close relationships with European customers.

Srivastava Yes added, “We can now offer a wide range of world-class products in one location. The synergies of the acquisition give Remsen the prospect of realizing a truly global revenue profile and expanding profits for shareholders.”