Friday, 23 December 2011

Actis buys USD 71 mn stake in Indian auto components firm Endurance Technologies

A leading private equity player specifically for Africa, Asia and Latin America, Actis has invested 71 million USD in the Aurangabad based Auto Component Player, Endurance Technologies.

Endurance manufactures aluminium die castings, suspensions, transmissions and brakes with a specific focus on the motorcycle and scooter market and high end engine and transmission components for passenger and commercial vehicles. It is amongst the largest Indian auto components businesses and has a proven track record of growth. The majority of the company`s revenues come from two-wheeler and three-wheeler vehicle manufacturers including industry leaders such as Bajaj, Yamaha, Suzuki, Honda Motorcycles and Scooters and Royal Enfield. In the passenger car segment, the company counts global marquee names such as Daimler, Audi, Fiat and Porsche as customers. Endurance is competitive on a global scale, with 19 manufacturing facilities, strategically located at key auto hubs in India, Germany and Italy.

Commenting on the deal JM Trivedi, head of South Asia at Actis, said, ``Endurance is an impressive business with robust credentials. Actis has a deep understanding of the automotive industry gained through our investments in Punjab Tractors, Avtec and Sandhar. We are excited to partner with Anurang Jain and look forward to working with the company as it continues to grow and develop.``

Anurang Jain, founder and managing director of Endurance added, ``I look forward to partnering with Actis, their track record in emerging markets and the sector gives me a lot of confidence. Endurance now has the opportunity to continue to build on its achievements to date with Actis as an investor I am sure we will. ``


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