Stone Plant Investments B.V., an affiliate of Warburg Pincus, US based private equity firm, has acquired a majority stake in Imperial Auto Industries Limited and its affiliated companies (Imperial), said a company statement.
Imperial, founded in 1969, is India’s largest manufacturer of fluid transmission products (FTP) for automobile and off-highway sectors.
The Group, which generates revenue of approximately Rs. 2,200 crore, offers a diversified product portfolio that includes rubber hoses, metal/nylon tubes and hose assemblies, as well as a rapidly growing portfolio of battery cooling products used in electric vehicles.
The Group has over 20 manufacturing facilities across India, Germany, and the US through which it serves industry leading OEMs in both domestic and overseas markets.
The Group will continue to be led by the current CEO and promoter, Tarun Lamba, who will drive the business going forward in partnership with Warburg Pincus, added the statement.
“This investment will help us fund our future growth plans which include capacity expansion, creation of best-in-class facilities for domestic and export clients and acceleration of EV related product development,” said Tarun Lamba, Managing Director and CEO, Imperial.
“We look forward to supporting Tarun and the team and leveraging the Imperial platform to build a leading diversified Indian auto components player serving both automotive and off-highway markets including electric vehicles,” Viraj Sawhney, Managing Director, Warburg Pincus India.
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