The Carlyle Group has acquired majority stakes in Roop Automotives Limited and Highway Industries Limited (HIL) for $400 million.
Trilegal advised Carlyle on this acquisition deal.
The transaction team was led by Sneha Vardhan (Partner), along with Shubhaang Sinha (Counsel ), Vyshnav Karthik (Counsel), Archit Gupta (Senior Associate), Vishesh Mehrotra (Senior Associate), and Associates Drishti Rajain, Sakshi Rajawat, Jatin Soni, Tanay Saluja and Shreya Khandelwal.
They were assisted by Atul Gupta and Kanishka Maggon (Labour and Employment Partners), Rahul Arora (Real Estate Partner), Kirti Balasubramanian (IP Partner), Jyotsana Jayaram (TMT Partner), Rajat Jariwal (Environment Law Partner, Anusha Ramesh (Litigation Partner), and Gauri Chhabra (Competition Partner), along with their respective teams.
Cyril Amarchand Mangaldas acted as legal counsel to Roop Automotives and its existing promoters Mohit Oswal and Gaurav Jain.
The transaction team was led by Anchal Dhir (Partner), Aditi Manchanda (Partner) and Jay Parikh (Partner) with support from Varun Kannan (Senior Associate) and Swini Khara (Associate).
Avaantika Kakkar (Partner & Head – Competition), Dhruv Rajain (Partner) with support from Swaha Sinha (Senior Associate) provided assistance on competition law-related aspects.
Arun Prabhu (Partner & Head – Technology); with support from Kanav Khanna (Associate) provided assistance on Information Technology /Data Protection related aspects.
Swati Sharma (Partner & Head - Intellectual Property); with support from Sandeep Pandey (Principal Associate); provided assistance on IP law-related aspects.
Bishen Jeswant (Partner) provided inputs on employment law-related aspects.
Touchstone Partners acted as the legal counsel for HIL and its promoters.
The transaction team included Karam Daulet-Singh (Managing Partner), Gaurav Desai (Partner) and Associates Aastha Saily, Anjani Tewary and Juhi Hirani.
The transaction involves the establishment of Carlyle Group’s auto parts platform entity by bringing together two distinct promoter groups and companies. Carlye will own 65-70 percent stake in the platform.
Roop Automotives is a manufacturer of Steering Yokes, Steering Joints, Slip Shaft Assemblies, I Shaft Assemblies, Steering Columns, Differential Housing, Steering Gearbox housing, Axle drive shafts, Tie Rod Ends & Ball Joints, Propeller Shaft Yokes, Spindle Axle, Arms & Levers, Connecting Rods etc. both international OEMs, Tier 1 and Tier 2 suppliers.
HIL is a global supplier of automotive high-precision steel forging components. Their customers include 2-wheeler, 4-wheeler, tractor, off Road Vehicle Manufacturers, and White Good Manufacturers and it is a Tier 1 supplier to various domestic and international OEMs.
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