SI Air Springs, a subsidiary of the USD 3 billion TVS Mobility group, has announced the acquisition of Roberto Nuti Group, a Bolognese company specialising in the manufacture and marketing of suspension systems for heavy vehicles in the aftermarket sector. SI Air Springs is known for its pioneering role and market leadership in air spring solutions for the automotive and rail sectors.
The acquisition of Roberto Nuti Group aligns with TVS Mobility's strategic vision of expanding its global footprint. The integration of the two companies is expected to create significant synergies, broadening Roberto Nuti Group's product range and reinforcing its position in the global market. The transaction, completed on 28th June 2024, involves the 100% acquisition of Roberto Nuti Group by TVS Mobility through its wholly owned Indian subsidiary, SI Air Springs Private Limited.
TVS Mobility already has a strong presence in Europe through its various businesses, including TVS Supply Chain Solutions, which has operations headquartered in the UK and subsidiaries in Italy, Germany, Spain, and other countries. Additionally, TVS Srichakra Ltd operates its tyre business from Milan, Italy, under the Eurogrip brand.
Luca Randighieri, General Manager of Roberto Nuti Group, stated 'We are honoured to be part of TVS Mobility, a prestigious group with decades of experience in this sector. The international growth potential this agreement offers us is exciting, and we are confident that joining forces with SI Air Springs will allow us to leverage their capabilities. Both companies will continue to operate normally during the integration period, ensuring a smooth transition for all our stakeholders.'
P. Srinivasavaradhan, Director of SI Air Springs, added 'We are thrilled to welcome the Roberto Nuti Group into the TVS Mobility family. This acquisition marks a significant step in our global expansion strategy, allowing us to combine our distinctive skills in the air spring business with the Nuti Group's renowned suspension systems expertise.'
Also Read
TVS Mobility Joins Mitsubishi Corpn To Offer Digitally Enabled Solutions