Aurangabad-headquartered wiring harness maker Dhoot Transmission Pvt. Ltd has acquired San Electromec Industries for an undisclosed amount, according to a press statement.
Bengaluru-based San Electromec makes wiring harnesses for the automotive industry, Indian Railways and the defence industry.
“With this acquisition, we aim to expand geographically while adding new capabilities and client markets,” said Rahul Dhoot, managing director at Dhoot Transmission.
Dhoot Transmission had previously acquired UK-based Parkinson Harness Technology and Scotland-based TFC Cable Assemblies.
Dhoot said the company has also formed Parkinson San Systems Pvt. Ltd to create synergy between the UK-based Parkinson and San Electromec, both strong players in the off-highway electrical segment.
Sanjeev Mehra, managing director at San Electromec, the deal will help the company grow the client base in harness and control panels and provide benefits of economy of scale.
Founded in 2001, San Electromec counts Wirtgen, Volvo, Terex, Faiveley, BEML and Tata Motors among its clients, according to the release.
Incorporated in 1998, Dhoot Transmission has 15 manufacturing locations in India, Europe and Thailand. It supplies its products to original equipment manufacturers across automotive and industrial sectors in India and Europe.
Dhoot Transmission claims to be the second-largest wiring harness manufacturer in the two-wheeler segment in India.
Mid-market investment bank Singhi Advisors acted as the adviser to Dhoot Transmission for this transaction. Investment banking firm Aeterno Partners advised San Electromec.
