Amtek Auto Ltd., a large integrated component manufacturer in India, agreed to acquire Asahi Tec’s iron casting, forging and machining businesses. Asahi Tec is a portfolio company of Unison Capital, a leading private-equity firm based in Japan. The acquired business has three manufacturing facilities in Japan, two in Thailand and a strategic holding in a joint venture in China. Key products include cylinder blocks, crankshafts, front axle beams, cylinder heads, turbocharger housings and other engine and suspension-related components. The primary end markets for these products include the commercial vehicle and passenger car segments and the construction equipment sector.
The business employs more than 1,500 employees in all locations. The product portfolio of the acquired business is highly synergistic to that of the Amtek Group, with a focus on engine, suspension and non-auto hydraulic components. Access to highly advanced technologies for front axle beams and crankshafts will be complementary to Ahmednagar Forgings’ existing business. The transaction provides the Amtek Group with further revenue opportunities particularly from the commercial vehicle and construction equipment segments. The acquired business also further strengthens Amtek Auto’s existing position in the high-growth turbocharger market.