PE firm Actis Advisors invests $71 mn in auto component maker Endurance
23 Dec 2011
Actis Advisors Pvt. Ltd, an emerging-markets focused private equity (PE) firm, has acquired a minority stake worth $71-million (Rs371.6 crore) in Aurangabad-based auto component maker Endurance Technologies Ltd.
Founded in 1985 as Anurang Engineering Co. Pvt. Ltd, Endurance is a manufacturer of aluminium die casting that includes alloy wheels, suspension, transmission and braking products for two- and three-wheelers and passenger and commercial vehicles.
The Endurance group consists of Endurance Technologies and its subsidiaries HTTS (India), Amann Druckguss (Germany), Endurance Fondalmec (Italy) and a joint venture with Magnetti Marrelli in India.
The company posted revenues of Rs2,483 crore at its domestic operations and around $165 million (Rs727 crore) at its overseas operations for the year 2010-2011.
Around 73.5 per cent of its domestic revenues come from two-wheeler and three-wheeler vehicle manufacturers such as Bajaj Auto, Yamaha, Suzuki, Honda and Royal Enfield Motors, with Bajaj Auto and Fiat being its top customers.
In the passenger car segment, Endurance has customers like Porsche, Daimler, Fiat and Audi.
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