inYantra Tech inks strategic partnership with UK's Volex

Pune-based inYantra Technologies (inYantra), a leading electronics design and manufacturing services (EDMS) company has entered into a decisive strategic partnership with UK-based Volex, a global integrated manufacturing-services and power-products company for $13 million (Rs 100 crore).

inYantra specialises in assembly of printed circuit boards (PCBs) and box builds. It is growing at CAGR of 38 percent in the last 5-years to emerge as one of the fastest-growing EDMS companies in India. It serves clients in the consumer, automotive and industrial segments.

Pravin Jain, chairman, inYantra said: “These are exciting times for us. In the last two years, we have grown organically and doubled our revenue despite the global challenges due to the pandemic. The strategic alliance with Volex positions us for accelerated growth for the next five years. We have developed a joint business plan based on the synergies in the existing businesses, as well as a significant expansion of the manufacturing footprint in India, and are targeting multiples of revenue growth by 2027.”

Nat Rothschild, executive chairman, Volex said: "The inYantra transaction offers an excellent strategic opportunity to expand our global footprint, which is consistent with our strategy, and will bring new and strengthened capabilities in the key Indian market. inYantra’s existing business, along with the imminent development of a complex cable assembly capability, will improve our customer offering, supporting low-cost manufacturing for existing and new domestic and export customers. Volex sees a further opportunity to improve inYantra’s margins by allowing inYantra to leverage the economies of scale from being part of a larger group.”

The association for inYantra will enable it to access global customer base and international footprint. In addition, Volex Stronger and structured focus on the electric vehicle segment is one of its key business verticals.

“We are now well-poised with the necessary platform to capitalise on the large-scale manufacturing opportunities presented by the Indian government's focus on ‘Make in India’, on the export of electronics manufactured in the country, and the organic growth projections of technology consumption in India,” added Jain.