Tata AutoComp Systems Limited, one of the country’s leading auto-component conglomerate, is planning to acquire TitanX, a leading global engine and powertrain solution supplier to the commercial vehicle industry. TitanX is owned by EQT Opportunity and Fourier transform and has its facilities in regions like North America, South America, Europe and China. The company has a turnover of around $ 30 million. TitanX was advised by BDA Partners, while Tata AutoComp was advised by Tata Capital Investment Banking.
Speaking on the occasion, Praveen Kadle, Chairman, Tata AutoComp Systems Limited said, “TitanX represents state of the art powertrain cooling solutions with a global presence that fits perfectly into our future growth areas. We are confident that under the successful and experienced management in TitanX, it will be a great asset and will contribute to the growth of Tata AutoComp.”
Ajay Tandon, MD & CEO Tata AutoComp Systems Limited added, “Tata AutoComp offers its customers in India and China a wide portfolio of products and services through its own capabilities and Joint Ventures with Global majors. In India, we have a very successful partnership with TRAD, which has state of the art engine cooling solutions for the passenger vehicle segment. TitanX has the latest technology in engine cooling solutions for commercial vehicles, which will help enhance our offering to our customers in commercial vehicle segment outside India. Given the challenges the auto-industry faces in emission control, this acquisition is a crucial part of our strategy of expanding globally and fortifying our presence in the Cooling and Emission Control segments.”
TitanX supplies its powertrain solutions for commercial vehicles and serves the western OEMs, including Volvo Trucks, Scania, Daimler and Iveco.
