Clearwater Capital Picks Additional Stake In Jamna Auto
PE-firm Clearwater Capital Partners Ltd has acquired another 4.03% stake in 
Jamna Auto Industries for Rs.15 Cr through preferential allotment.
Jamna Auto has allotted 1,578,947 shares at Rs.95 per share to Clearwater Capital Partners Singapore Fund III Pvt Ltd. Clearwater held 26.29% stake before the stake purchase.
Transaction Reference: BSE
Jamna Auto Industries (JAI) went public in Nov '85. It manufactures auto parts and specialises in the manufacture of laminated springs for automobiles.
It has entered into JV with NHK Spring Co. Ltd, Nissho Iwai Corporation, Japan & Allevard Ressorts Automobile, France for manufacture state of the art coil springs and stabilizer bars primarily for supplies to the car market in India by a substantial foreign equity 85% and Company investing the balance 15%.
It is set to supply air suspension and has signed a technical assistance agreement with the US‐based Ridewell Corporation for manufacture of air suspension and components.
It has plants in Gwalior, Yamuna Nagar, Chennai and Jamshedpur with a total capacity of 144,000 MT. While plants in Pune, Uttranchal and Lucknow are under evaluation.
In the auto components space, this year in March Mahindra forgings raised Rs.175 Cr via QIP, while Ramkrishna Forgings Ltd raised Rs 53.75 Cr through a QIP in Feb'10.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 24/08/10 | Jamna Auto - Clearwater Capital | Private Equity | Clearwater Capital Partners LLC | 3.20 |
| 10/11/09 | Jamna Auto - Clearwater Capital Partners Exit | Private Equity | 0.87 | |
| 12/03/08 | Jai Parabolic - Jamna Auto Industries | M&A | Jamna Auto Industries Limited | 13.48 |
| 26/06/07 | Jamna Auto - Clearwater Capital Partners | Private Equity | Clearwater Capital Partners LLC | 5.45 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 06/02/12 | M&A | OCL Iron and Steel Limited | Aron Auto Limited | - | Completed |
| 05/01/12 | M&A | Ring Plus Aqua Limited | Trinity India Limited (Formerly Trinity Die Forgers Limited) | - | Announced |
| 04/01/12 | M&A | JBM Cadmium Private Limited | TescoGo SPA | 37.62 | Completed |
| 02/01/12 | M&A | Varroc Engineering Private Limited | TriOM SPA | - | Completed |
Fund |
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| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Clearwater Capital Partners LLC | Basic Industries Hospitality Real Estate Transport & Logistics |
www.clearwatercapitalpartners.com | Karthik Balachandran AthreyaRobert Dean PettyAmit GuptaSubhashree DuttaJaewoo ShimWilliam ShiaJason EdwardsEdward CairnsMichael CapassoPierre Jean EveraertVivek Kohli | |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Jamna Auto Industries Limited | Jauhar Family | 2, Park Lane, Kishangarh, Vasant Kunj, New Delhi-110070, India |
Arun Auto Spring Mfg. Co Mubea Automotive India Private Limited Jonas Woodhead & Sons (India) Limited |
http://www.jaispring.in/ |
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