Samvardhana Motherson International announces three acquisitions worth over Rs 380 crore
Samvardhana Motherson International Ltd on Friday announced three acquisitions valued at over Rs 380 crore in aerospace, health and medical sectors to strengthen its non-automotive businesses further. The aerospace division of Samvardhana Motherson International Ltd (SAMIL) is building its capabilities in a phased and strategic manner, enabling it to offer a much wider range of services to aerospace OEMs, the company said in a statement.
The company has acquired French company ADI Group with Moroccan and Tunisian subsidiaries engaged mainly in the business of manufacturing components for aircraft engines and medical devices at a purchase consideration of 35 million Euros (around Rs 310 crore).
AD Industries manufactures a wide range of components and sub-assemblies, and has diverse capabilities across four key divisions — sheet metal, hydraulics, mechanical assemblies, and composites, it added.
Besides, Motherson has also acquired aerospace defence and security firm SMAST for nearly Rs 25 crore. It also completed the acquisition of France-based Cirma this year besides CIM Tools in 2022.
In the medical segment, Motherson said it will acquire Irillic Pvt Ltd, which is engaged in design, development, manufacturing, and distribution of real-time fluorescence imaging and 4K laparoscopy imaging systems for the medical device ecosystem.
The agreement is for investment of Rs 46.6 crore through a combination of primary infusion and secondary acquisition.
Upon closing of the transaction, SAMIL will hold 74.19 per cent of the share capital of Irillic, which on a fully diluted basis translates into 73.05 per cent, the company said.
«These acquisitions will serve as catalysts for our health and medical business which will now
