SI Air Springs, a subsidiary of the $3 billion TVS Mobility group, has acquired Italy’s Roberto Nuti Group, which is into manufacturing and supply of suspension systems mainly for industrial and commercial vehicles in the aftermarket. The financial details of the transaction were not disclosed.
In a press release, TVS Mobility said, the transaction was completed on June 28 and that the agreement includes 100% purchase of Roberto Nuti Group by TVS Mobility indirectly, through its wholly-owned Indian subsidiary, SI Air Springs and investments appropriate to the full relaunch of the company.
According to the company’s website, the Italy-headquartered Group was founded in 1962. It is an exclusive distributor of SABO products, including shock absorbers, air springs and MUPO shock absorbers, for the Italian market and across the world.
SI Air Springs, on the other hand, is into manufacturing of air spring solutions for the automotive and rail sector.
TVS Mobility has a deep presence in Europe through its group businesses such as TVS Supply Chain Solutions and TVS Srichakra (Italian branch based in Milan operating the tyre business with Eurogrip branded products).
“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,” P Srinivasavaradhan, Director of SI Air Springs, said in the release.
