RSB Transmissions, a global leader in automotive, construction and equipment systems manufacturing, has secured a strategic investment from Bain Capital, a leading global private investment firm. The investment will support RSB’s growth initiatives, with a focus on mergers and acquisitions (M&A) and expanding its global footprint.

Founded in 1973 by R K Behera and S K Behera, Jamshedpur-based RSB is a global supplier for commercial vehicles, passenger cars and construction equipment. Serving leading original equipment manufacturers (OEMs) such as Tata Motors, Ashok Leyland, Daimler and Mahindra & Mahindra, as well as construction behemoths like CAT, Tata Hitachi, JCB and Komatsu, RSB operates 16 cutting-edge manufacturing facilities throughout India and a plant in Mexico.

Through the agreement, RSB Transmissions will get strategic and financial support to support its growth ambitions and international expansion. Bain Capital will assist RSB in expanding its worldwide presence and investigating new prospects in developing markets thanks to its vast experience in the automotive and industrial industries.

R K Behera, Founder of RSB Transmissions, said, "As we celebrate 50 years of excellence, we are excited to begin this new chapter of growth with Bain Capital as our strategic partner. We’ve built a solid foundation over the past five decades, and with Bain Capital’s expertise and resources, we are confident in our ability to seize new opportunities and further strengthen our position as a global leader in our industry."

S K Behera, Vice Chairman and Managing Director of RSB, added, "This investment partnership represents a shared vision for the future of RSB. Bain Capital’s deep industry knowledge and global network will be invaluable as we work together to explore new markets, drive innovation and continue delivering exceptional value to our customers."

Pawan Singh, Partner at Bain Capital, said, "RSB has built a strong reputation for high-quality engineering and long-term relationships with key customers. We look forward to working closely with the Behera family and RSB’s management team to help the company reach new heights and become a more diversified global platform."

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Switzerland-headquartered tier 1 supplier Autoneum signed an agreement to acquire all shares of Chengdu FAW-Sihuan Interior Parts Co, an automotive supplier for acoustic and thermal management in China.

Together with the recently completed acquisition of Jiangsu Huanyu Group, Autoneum's Business Group Asia is further expanding its customer base to include other major Chinese vehicle manufacturers such as FAW-Volkswagen, FAW-Audi, FAW-Toyota and Geely. The transaction is scheduled to close in July 2025.

The tier 1 supplier states that with around 30 million light vehicles produced annually, China is the world’s largest automotive market and with an expected increase to 31.5 million cars by 2030, it is also one of the most important growth markets for the automotive industry.

Established in 2011, Chengdu FAW-Sihuan Group operates four production facilities with around 240 employees in the immediate vicinity of local automotive manufacturers in the north, centre and south of China.

Chengdu FAW-Sihuan Group’s product portfolio is very similar to that of Autoneum and includes components such as floor insulators, wheelhouse liners, trunk trims, inner dashes, hoodliners and outer dashes. In FY2024, Chengdu FAW-Sihuan Group generated a preliminary revenue of around CHF 27 million, with a strong growth projected for the coming years. The purchase price is around CHF 16 million (excluding cash and cash equivalents and debt) and closing is expected in July 2025 following the necessary approvals by the authorities. It intends to continue operating the Group under the Chinese company names. From an organisational perspective, however, Chengdu FAW-Sihuan Group will be fully integrated into Autoneum’s Business Group Asia in order to fully leverage the synergies.

Chengdu FAW-Sihuan Group, like the Jiangsu Huanyu Group, offers access to local vehicle manufacturers in China. This will enable Autoneum to continue to expand and complete its customer base in this key market.

Eelco Spoelder, CEO, Autoneum, said, “The acquisition is in line with our corporate strategy Level Up and marks another important step in implementing our strategic pillar Accelerate global growth. By adding further local Chinese car manufacturers to our customer portfolio, this latest takeover, together with the acquisition of Jiangsu Huanyu Group, will bring us even closer to our medium-term target of generating 20 percent of Group revenue in Asia.”

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Tier 1 supplier Lumax Auto Technologies has signed an agreement to acquire the remaining 25 percent stake in IAC International Automotive India (IAC India) from the International Automotive Components Group (IAC Group).

It was in March 2023, Lumax had acquired 75 percent stake in IAC India and now plans to merge it with its operations. At present, IAC India is a key components supplier to OEMs such as Mahindra & Mahindra, Maruti Suzuki India, Volkswagen and Volvo Eicher Commercial Vehicles among others. Interestingly, IAC India is the sole supplier of integrated cockpits and door panels for Mahindra’s BE6 and XEV 9e.

IAC India has five manufacturing plants across the country including two in Chakan, Pune and one each in Manesar, Nashik and Bangalore. The company also has an in-house Engineering centre in Pune with key capabilities in product designing and engineering, dimensional engineering, product development, program management and tooling development. The Engineering centre has a team of 330 engineers and designers with Global experience catering to all tool development requirements from customers as well as from its global sister concerns.

Deepak Jain, Chairman, Lumax Group, said, “The consolidation will strengthen our strategic vision and enable future growth, building on the strong foundation to drive continuity, performance and scalability. This development marks a significant milestone in our journey towards long-term value creation and providing comprehensive solutions across lighting, plastics and interiors. It also reinforces its strategic position within IAC India and expands our footprint on major electric vehicle platforms of leading OEMs such as Mahindra & Mahindra, emphasising our commitment to the future of sustainable mobility.”

Anmol Jain, Managing Director, Lumax Auto Technologies, added, “This strategic move will further strengthen Lumax Auto Technologies’ foothold in four-wheeler automotive plastics. This further integration will allow for better cost optimisation and rationalisation of resources, potentially creating financial flexibility at the parent level to pursue future strategic, inorganic opportunities that align with our long-term vision.  In addition, it will accelerate innovation and enhance our value proposition per vehicle that is seeing a shift towards improved interiors in passenger vehicles.”

IAC Group will continue to support IAC India through a technology support agreement.

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Auto components major Pricol reported a consolidated net profit of INR 1,670 million for FY2025, marking an 18.79 percent increase over the previous financial year.

The company also posted a consolidated revenue of INR 26,20 billion for FY2025, reflecting a YoY growth of 18.69 percent. EBITDA stood at INR 3.3 billion, up 19.91 percent, with an EBITDA margin of 12.75 percent.

For the fourth quarter (Q4 FY2025), revenue rose 32.81 percent YoY to INR 7.5 billion, while EBITDA reached INR 883 million. Q4 PAT was reported at INR 349.48 million.

During the quarter, Pricol Precision Products, a wholly-owned subsidiary, acquired the Injection Moulded Plastic Component Solutions Division of Sundaram Auto Components on a slump sale basis, completed on 31 January 2025.

Vikram Mohan, Managing Director, Pricol Industries, said, “Our performance for this quarter underscores both the progress we have made and the obstacles we have encountered in a balanced manner. Strategic efforts have led to meaningful gains in many areas; however, the current geopolitical climate has had an impact on our overall results. We have taken multiple actions to counter the effects of the same; the results of which will be visible from Q2 of FY 26 onwards. Nevertheless, our sustained commitment to technological advancement is opening many more doors which will ensure steady growth and a good future for our company. Looking forward, we are taking deliberate steps to address operational challenges while reinforcing our focus on delivering enduring value for our stakeholders.”

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Mumbai-based automotive components supplier Remsons Industries has secured its largest-ever single business win of USD 35 million order from Stellantis North America.

As per the understanding, Remsons will supply critical components for Stellantis’ vehicle platforms such as Jeep Wrangler and RAM. It is also expected to supply products for Smart car and three-wheeler for Stellantis Europe.  

Rahul Kejriwal, Executive Director, Remsons Industries, said, “This is not just a new project; it is a moment that defines our journey and reaffirms the faith that global automotive leaders place in our capabilities, quality, and commitment.”

Amit Srivastava, Group CEO, Remsons, added, “This milestone reflects the strength of our collective persistent efforts and unwavering commitment.”

For the last five decades, Remsons Industries has been supplying components for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and off-highway vehicles to OEMs in India. The company has set-up manufacturing facilities in Gurgaon, Pune, Pardi and Daman in India, also Stourport & Redditch in England (UK).

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