Leading Aurangabad-based component manufacturer Endurance Technologies has made yet another acquisition, this time in Italy.
Endurance Overseas Srl, Italy (EOSrl), a subsidiary of Endurance Technologies and the special purpose vehicle for strategic overseas investments, has acquired controlling equity stake of 99% for 3.5 million euros (Rs 29 crore), in Adler SpA. Adler is a leader in systems solutions for clutches, gears and friction plates with niche in R&D, engineering services and product development for OEM customers in Europe. The Italian supplier is well known for its design and production of clutches, gears, blow-by valves, intake manifolds, reed valves, SAS valves, tyre locks, rubber dampers and vibration dampers for the automotive market.
The acquisition of Adler, which has been a long term technology provider to the Endurance Group, is a strategic buy because it gives the Indian Tier 1 major complete access to Adler's technical know-how and intellectual property rights. Furthermore, this acquisition would also provide future growth opportunities for Endurance's domestic market business in India and for export opportunities too.
Adler's manufacturing plant is located in Rovereto, Italy
Adler, which has a manufacturing plant located in Rovereto, Italy, recorded revenues (in local GAAP) of around 6.4 million euros (Rs 53 crore) in CY2019 from sale of manufactured products and other income relating to transmission systems.
Following the acquisition of the controlling stake in Adler by EOSrl, the company's name is being changed to Endurance Adler SpA. Consequent to this acquisition, the Endurance Group in Europe now has 10 manufacturing plants, of which seven are in Italy and three in Germany.