Carlyle-backed Highway Roop acquires Chamundi Die Cast
The Carlyle Group-backed Highway Roop Precision Technologies Ltd has acquired Chamundi Die Cast Pvt. Ltd, an Indian manufacturer of complex, precision-machined aluminium die-cast components for automotive and industrial applications. Financial terms of the deal were not disclosed.
The acquisition adds Chamundi’s aluminium die-casting and precision-machining capabilities to Highway Roop’s existing strengths in forging and machining across steering, transmission and powertrain applications. The combination broadens Highway Roop’s manufacturing capabilities in precision components across torque and control applications.
A step towards diversification
Over four decades, Chamundi has built a business anchored in engineering excellence, a committed workforce and long-standing customer relationships. It also brings a growing portfolio of electric vehicle components and established customer relationships across India, North America and Europe.
Chamundi’s South India manufacturing base diversifies Highway Roop’s footprint and brings it closer to key customers. The acquisition marks a strategic milestone in Highway Roop’s journey towards an initial public offering and builds a scaled, diversified precision manufacturing platform by bringing together complementary capabilities.
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“This acquisition is an important milestone in our journey to build Highway Roop into a scaled, diversified precision manufacturing platform anchored in mission-critical torque and control applications,” said Mohit Oswal, chairman of Highway Roop.
“Chamundi strengthens Highway Roop’s capabilities around our core focus on torque and control applications. Its integrated aluminium die-casting and precision-machining capabilities expand the ability to deliver complex, lightweight engineered solutions across vehicle technologies,” said Dharmesh Arora, group chief executive and director of Highway Roop.
“We will continue to hold a stake in the combined entity. Highway Roop’s complementary capabilities and scale will enable us to build on this foundation, deepen our relationships with customers, and create new opportunities for our employees, as we grow together,” said Yasin Khan, managing director of Chamundi.
“This transaction reflects Carlyle’s continued commitment to building a scaled, differentiated precision manufacturing platform in India. Highway Roop has established itself as a trusted partner to global OEMs for mission-critical torque and control components, and Chamundi adds complementary capabilities that further strengthen its customer proposition,” said Amit Jain, partner and head of Carlyle India Advisors.
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