Samvardhana Motherson International Ltd said its wholly owned subsidiary Samvardhana Motherson Automotive Systems Group B.V. will fully acquire Brazilian auto component maker Baldi Industria E Comercio Ltda in a US$7.8 million deal.
Baldi Industria is a tier 2 automotive supplier providing wrapping solutions and soft-touch surfaces for door panels, IP, steering wheels and other interior components. The company, which had a turnover of US$11,282 in 2023, has one manufacturing facility in Brzail.
The acquisition supports Samvardhana’s existing module and polymer footprint in the South American region with enhanced capabilities in wrapping solutions and soft-touch interior surfaces for door panels and instrument panels.
The transaction is subject to satisfactory completion of all conditions precedent and is expected to be closed by the first quarter of the next financial year. The acquisition amount will be paid in cash.
Of the US$100 million, approximately US$2.8 million will be held back to secure seller indemnification obligations for a maximum period of five years, Samvardhana Mother said in an exchange filing.
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