Samvardhana Motherson International Limited (Motherson) has announced a series of acquisitions to strengthen its non-automotive businesses.
In the aerospace segment, Motherson has acquired AD Industries, a French company with subsidiaries in France, Morocco, and Tunisia. AD Industries manufactures components for aircraft engines and medical devices. The acquisition will provide Motherson with access to state-of-the-art capabilities in sheet metal fabrication, hard metal machining, and composites. It will also give Motherson a strategic footprint with close proximity to customers in Europe and Africa. Purchase consideration of € 35 million (subject to leakage adjustments) is to be paid upon closing with an additional upside of upto € 10 million based on CY 2023 performance.
In the health and medical segment, Motherson has acquired Irillic Private Limited, an Indian company that designs, develops, manufactures, and distributes real-time fluorescence imaging and 4K laparoscopy imaging systems. Irillic has two patents granted in India and the USA, and its products are used by major corporate, government, and private hospitals in India. The acquisition will give Motherson access to Irillic's R&D and engineering capabilities, as well as its manufacturing expertise. The agreement is for an investment of INR 466 million through a combination of primary infusion and secondary acquisition.
Vivek Chaand Sehgal, Chairman, Motherson, stated 'As part of Vision 2025, Motherson is increasing its focus on non-automotive businesses, which are built on the core strength and manufacturing DNA of Motherson. Our aerospace business now has a strong presence in Asia, Europe, and Africa, enabling us to better serve and provide solutions to aerospace OEMs and Tier 1 customers globally. These acquisitions will serve as catalysts for our health and medical business which will now have access to global manufacturing and R&D capabilities with new footprints across Europe and India. We look forward to welcoming over 1200 new members into the Motherson family.'
Also Read