CHENNAI: SI Air Springs, a subsidiary of the $3 bn group TVS Mobility, announced the acquisition of Roberto Nuti Group, a Bolognese group having a multinational presence that manufactures and markets suspension systems mainly for heavy vehicles in the aftermarket.
SI Air Springs is a pioneer and market leader in India in the field of air spring solutions for the automotive and rail sector.
TVS Mobility has a well rooted presence in Europe with some of the other businesses that are part of the group such as TVS Supply Chain Solutions (Europe operations headquartered in the UK with operating subsidiaries in Italy, Germany, Spain among other countries) and TVS Srichakra Ltd (Italian Branch based in Milan operating the tyre business with Eurogrip branded products), as per a release.
The collaboration is expected to create significant synergies for both TVS Mobility group companies and Roberto Nuti Group, broadening Roberto Nuti Group’s product range and strengthening its position in the global market.
Luca Randighieri, GM, Nuti Group, said: "We are excited about the international growth potential this agreement brings us and we are confident that joining forces with SI Air Springs will allow us to take advantage of their capabilities. Both companies will continue to operate normally during the integration period, and we are committed to ensuring a smooth transition for all our stakeholders.”
"This acquisition marks a significant step in our global expansion strategy, allowing us to combine our distinctive skills in Air Spring business with the Nuti Group’s renowned suspension systems expertise," said P Srinivasavaradhan, director, SI Air Springs.
The transaction was completed on June 28, 2024. The agreement includes the 100 per cent purchase of Roberto Nuti Group by TVS Mobility indirectly, through its wholly-owned Indian subsidiary, namely, SI Air Springs Private Ltd and investments appropriate to the full relaunch of the company.