Stone Plant Investments BV, an affiliate of Warburg Pincus, announced that it has acquired majority stake in Imperial Auto Industries and its affiliated companies, including Imperial Group.
According to a press release from the private equity firm, EY acted as the sole financial advisor to Imperial, an integrated manufacturer and assembler of fluid transmission products (FTP).
The Imperial group said that investment will help fund its future growth plans, including capacity expansion, creating best-in-class facilities for domestic and export clients, and accelerating EV-related product development. It has 20 manufacturing facilities across India, Germany, and the US, through which it serves OEMs in both domestic and overseas markets. Moreover, it also has a product library of over 25,000 SKUs used across a wide range of FTP applications and seeks to be a one stop provider for all its customers, the release added.
Tarun Lamba, Managing Director and CEO, Imperial, said “Our association with Warburg Pincus should enable us to further attract high quality talent to Imperial and bring new capabilities to the market.”
Viraj Sawhney, Managing Director, Warburg Pincus India, said, “We look forward to supporting Tarun and the team and leveraging the Imperial platform to build a leading diversified Indian auto components player serving both automotive and off-highway markets, including electric vehicles.”