New Delhi-NCR, April 29, 2013: The UNO Minda, N K Minda Group, has acquired100 percent shares of Clarton Horn S.A.U., Spain from PMAn Domestic AG, which is affiliated to Quantum Kapital. The estimated cost of the acquisition is around 7.5 million euros (Rs 53 crore).
With Clarton Horn, which is a leading manufacturer of automotive electronic horns supplying to all major OEMs in Europe, the acquisition puts UNO Minda into the among the top two horn manufacturers in the world. Clarton Horn posted a turnover of 38 million euros (Rs 269 crore). After its acquisition from Robert Bosch GmbH in 2008 by Quantum Kapital AG, the company underwent a successful turnaround with the support of the Quantum management team and has since then become the world’s second largest manufacturer of automotive horns.
For UNO Minda, which currently has an over 45 percent share of the automotive horns market in India, this overseas acquisition is a major step in its strategy to become a global player in the product.
Clarton Horn has a manufacturing plant in La Carolina, Spain. It has a small setup in Morocco to cater to the African market, with sales offices in Brazil, France, Germany and Korea. It manufactures trumpet Horns, disc horns and electronic horns.
Commenting on the acquisition, N K Minda, CMD, UNO Minda, said: “The current acquisition will push us in the top league of suppliers of automotive horns. It complements our strategy to drive innovation through organic and inorganic growth. Clarton Horn is renowned for its technical competence, innovation and quality products. With this acquisition, we would be able to service OEM needs from multiple locations and expand our genre of offerings.”
He added, “This acquisition will have no adverse impact on the employee, supplier and customer eco-system of Clarton Horn. The employees of Clarton Horn are now a part of ever evolving UNO Minda, N K Minda Group. Clarton Horn is the biggest employer in La Carolina. It is our commitment to maintain and grow the company.”
UNO Minda, NK Minda Group, a technology leader in the auto components Industry, is a leading supplier of proprietary automotive solutions to OEMs as Tier 1. It is today an over US$400 million (Rs 2,175 crore) group and is rapidly expanding with increased market share in its product lines.The Group is a global player with manufacturing facilities in Indonesia and Vietnam and offices in Japan, Europe and China. It has 31 manufacturing plants in India and has JVs/Technical Agreements with world renowned manufacturers in Italy, India and Japan.