Auto components manufacturer - JBM Goup has acquired 51% stake in Italy based engineering services company - Tesco Go SPA for about R200Cr(wsj.com) thorugh it's group entity JBM Cadmium Pvt Ltd.
Founded in 1968, Tesco Go provides engineering services to Italian and international clients in automobiles, aerospace and engineering. The company has a presence in Detroit, London, Munich, Stuttgart and Turin has a staff of around 300 resources. The company had a turnover of $20Mn last year and it's clientele includes Mercedes Benz/Daimler, Ford, Tata, Fiat, Lamborghini, Bajaj and Piaggio, among others.
JBM Group has over 33 plants at 14 locations under its fold. It has 14 companies which supply to manufacturers like Maruti, Tata Motors, Bajaj, General Motors, Volvo and Ford, among some others. Other auto component companies in it's fold includes JBM Auto and Jay Bharat Maurti among others.
Since 2009, JBM is looking at expanding it's base in overseas markets, particularly in emerging markets like China and Mexico through acquisitions. At present, 4% of its revenues come from international markets, which includes countries in Western Europe and North America.
Other Indian auto component maker have also made cross border acquisitions in past couple of years. Most recently, Aurangabad based auto component maker - Varroc Group acquired 80% stake in Italy based two-wheeler headlights and tail lights maker TriOM SPA. In June last year, Dynamatic Technologies Ltd acquired German automotive component maker Eisenwerke Erla GmbH, through its wholly owned subsidiary, JKM Erla Automotive Limited.
(Source : http://www.dealcurry.com/2012014-JBM-Group-Acquires-Majority-Stake-In-Engg-Services-Provider-TescoGo-SPA.htm)
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