The Business Bytes
Chennai (India) / Castelguelfo Bologna (Italy), July 1, 2024 (TBB Bureau): In a strategic move aimed at bolstering its presence in the global automotive aftermarket, SI Air Springs, a subsidiary of the USD 3 billion conglomerate TVS Mobility, has successfully completed the acquisition of Roberto Nuti Group. This acquisition, finalized on June 28, 2024, marks a significant expansion for TVS Mobility into the European market.
Roberto Nuti Group, headquartered in Bologna, Italy, is renowned for manufacturing and distributing suspension systems primarily for heavy vehicles across multiple international markets. The partnership is expected to synergize the strengths of both entities, enhancing Roberto Nuti Group’s product portfolio while reinforcing its competitive position worldwide.
Luca Randighieri, General Manager of Roberto Nuti Group, expressed enthusiasm about the acquisition, stating, “We are honored to join TVS Mobility, a prestigious group with decades of industry leadership. This partnership promises substantial international growth opportunities, leveraging SI Air Springs’ expertise to advance our capabilities.”
P Srinivasavaradhan, Director of SI Air Springs, commented, “We are delighted to welcome Roberto Nuti Group into the TVS Mobility family. This acquisition underscores our commitment to global expansion and innovation in the air spring solutions sector. We look forward to integrating our complementary strengths and driving mutual growth.”
TVS Mobility’s existing foothold in Europe through subsidiaries like TVS Supply Chain Solutions and TVS Srichakra Ltd positions it strategically to support Roberto Nuti Group’s integration and future growth initiatives seamlessly.
Both companies have affirmed their commitment to maintaining business continuity and ensuring a smooth transition for stakeholders during the integration phase. The acquisition includes a comprehensive investment plan aimed at revitalizing Roberto Nuti Group’s operations and expanding its market reach.
