International Finance Corporation (IFC), the private investment arm of the World Bank has invested $37 million (Rs 162 crore) in
Craftsman Automation Pvt Ltd, a diversified engineering company machining of critical parts for domestic OEMs in the vehicle segment.
The investment, in the form of straight or quasi equity, will be used for part-financing Craftsman’s expansion plans and for the growth of the company..
Craftsman plans to set up new units at locations close to OEMs and their subsidiaries andplans to purchase new equipments for its existing facilities.
It plans to set up units at Pune, Haryana and Uttaranchal.
Transaction Reference:
BS
Craftsman Automation, launched in 1984, is into diversified business ranging from machining of critical parts for domestic OEMs in the commercial vehicles and tractors segment to contract manufacturing of assemblies and sub-assemblies for various sectors like automotive, textiles, printing machines, locomotives for both domestic and export markets, and manufacture of products such as industrial gears and marine products.
Its clients list includes Tata, Mahindra, Ashok Leyland and Daimler.
Presently, it has three manufacturing units in Coimbatore and, besides four other units located at Chennai, Sriperumbudur, Pithampur and Jamshedpur that provide machining services.
It also has a subsidiary in the Netherlands that sells marine products, and two JVs with Carl Stahl International Gmbh, Germany to develop and market material handling equipment and with Mitsubishi for selling their laser cutting machines.
Craftsman’s turnover was Rs 252 crore in 2008-09.
This year in March, Hero Motors formed a JV with German based ZF Group to form ZF Hero Chassis Systems Private Limited to develop integrated chassis and axle systems for various carmakers. Both companies has an equal stake in the new company.
| |
4126
3836
944
4256
972
|
|
17633
42
1639
25439
3002
|
|
1343
458
3139
32625
140
|
|
24534
|
|
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 20/05/10 |
IFC-Craftsman |
Private Equity |
International Finance Corporation |
37.00 |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 15/05/12 |
Private Equity |
Rakesh Jhunjhunwala |
Geometric Limited |
1.16 |
Completed |
| 11/05/12 |
M&A |
Anchor Electricals Private Limited |
Firepro Systems Private Limited |
- |
Announced |
| 07/05/12 |
M&A |
RHI Group |
Orient Refractories Limited |
112.21 |
Planned |
| 02/05/12 |
Private Equity |
Summit Partners |
Regen Powertech Private Limited |
9.87 |
Completed |
Fund |
| Name | Corpus | Target Sector | Website | KeyContact |
| International Finance Corporation |
|
Micro Finance
Infrastructure
Energy |
www.ifc.org |
Anup Kumar Agarwal
|
Company |
| Name | Promoters | Office | Competitor | Website |
| Craftsman Automation Private Limited |
S Ravi & Group |
15, LML Colony, P N Palayam
Coimbatore - 641037,
India |
|
www.craftsmanautomation.com |
