M&A Deal Summary

Mahindra CIE Automotive Acquires Bill Forge Pvt

On September 12, 2016, Mahindra CIE Automotive acquired automotive company Bill Forge Pvt from Kedaara Capital for 13.3B INR

Acquisition Highlights
  • This is Mahindra CIE Automotive’s 1st transaction in the Automotive sector.
  • This is Mahindra CIE Automotive’s 0th largest (disclosed) transaction.
  • This is Mahindra CIE Automotive’s 1st transaction in India.

M&A Deal Summary
Date 2016-09-12
Target Bill Forge Pvt
Sector Automotive
Buyer(s) Mahindra CIE Automotive
Sellers(s) Kedaara Capital
Deal Type Add-on Acquisition
Deal Value 13.3B INR

Target

Bill Forge Pvt

Bengaluru, India
Bill Forge Pvt Ltd. is a precision forging company based in Bangalore, India with 6 manufacturing facilities in India across Bangalore, Coimbatore and Haridwar and an upcoming plant in Celaya, Mexico. BFPL is a crucial supplier to a number of domestic and global two-wheeler and passenger car OEMs and Tier 1 auto component companies. It manufactures a variety of cold, warm, hot forged and machined components primarily for steering, transmission and wheel-related assemblies.

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Buyer(S) 1

Buyer

Mahindra CIE Automotive

Mumbai, India
Category Company
Founded 1999
Sector Automotive
Employees10,746
Revenue 83.9B INR (2021)
DESCRIPTION

Mahindra CIE Automotive is a large diversified auto components supplier formed as a result of partnership between Mahindra Group ("M&M") of India and CIE Automotive S. A of Spain ("CIE"). As a part of this partnership, CIE took a majority stake in the automotive component companies of the Mahindra Group and which were part of the Systech sector of the Mahindra Group. MCIE has presence across many processes/ product lines, geographies and customers. Its key customers are major Indian and European automotive OEMs. MCIE is a multi-technology company which has 6 distinct processes viz. forgings, castings, stampings, gears, magnetic products and composites. It has plants in India, Germany, Spain, Italy, UK and Lithuania. Mahindra CIE Automotive was founded in 1999 and is based in Mumbai, India.

DEAL STATS #
Overall 1 of 1
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (India) 1 of 1
Year (2016) 1 of 1

Seller(S) 1

SELLER

Kedaara Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

Kedaara Capital is an operationally oriented private equity firm focused on control and select minority investments in India. The Firm is a generalist investor, with no sector preferences and looks to commit $25 to $75 million per transaction. The Firm does not invest in seed or early stage companies or in businesses where the market is unproven. Kedaara Capital was established 2011 and is headquartered in Mumbai.

DEAL STATS #
Overall 1 of 9
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (India) 1 of 9
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-12 Aavas Financiers

Jaipur, India

Aavas Financiers is a non-banking finance company involved in providing house loans, primarily in the un-served, unreached and under-served market. Aavas Financiers was formed in 2011 and is based in Jaipur, India.

Buy Rs9.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-20 Vijaya Diagnostic Centre

Hyderabad, India

Vijaya Diagnostic Centre is a comprehensive diagnostic network with over 66 state-of-the-art centers spread across 12 cities. The company provides comprehensive, innovative and state-of-the-art diagnostic services under one roof, in a reliable, affordable and customer-centric manner. Vijaya Diagnostic Centre was founded in 1981 and is based in Hyderabad, India.

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