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SI Air Springs, a subsidiary of the $3-billion group TVS Mobility, has acquired Italy-based Roberto Nuti Group, which manufactures and markets suspension systems mainly for heavy vehicles in the aftermarket, for an undisclosed sum.
SI Air Springs is engaged in the field of air spring solutions for the automotive and rail sectors. The transaction was completed on June 28. The agreement includes the 100% purchase of Roberto Nuti Group by TVS Mobility indirectly, through its wholly-owned Indian subsidiary, namely, SI Air Springs Pvt Ltd, and investments appropriate to the full relaunch of the company, according to a statement.
The deal is expected to create significant synergies for both TVS Mobility Group companies and Roberto Nuti Group.
“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 of SI Air Springs.
“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,” Luca Randighieri, General Manager of the Nuti Group, said.
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