Southeast Asia- and India-focused private equity firm Creador has inked a deal to acquire a 19.6% stake in Hinduja Tech Limited (HT) for $50 million.
This investment values the mobility engineering R&D services firm, a subsidiary of Ashok Leyland, the Indian flagship of the multi-billion dollar conglomerate Hinduja Group, at a post-money equity value of $255 million, contingent upon customary closing conditions.
The injection of capital from Creador is set to propel Hinduja Tech’s ambitions in the global mobility landscape, enhancing its research and development capabilities and expanding its global footprint.
This includes scaling up its state-of-the-art labs, which are pivotal in HT’s push towards becoming a global leader in sustainable engineering mobility services.
Creador’s investment is a significant endorsement of Hinduja Tech’s potential in the mobility engineering and R&D space, where the company has already established a reputation for its deep domain expertise and collaborative ventures.
With a focus on everything from traditional buses and sports cars to cutting-edge electric and autonomous vehicles, HT is positioned at the forefront of the industry’s shift towards sustainable solutions.
Anish Kedia, Director at Creador, lauded HT’s position as a key player in the mobility ER&D industry and its portfolio of marquee global customers.
Kedia expressed confidence in HT’s trajectory towards creating sustainable and profitable mobility solutions, backed by its comprehensive engineering capabilities.
This latest investment by Creador aligns with its strategy of supporting growth-oriented businesses in its focus regions.
The firm’s backing of Hinduja Tech underscores a shared vision for innovation and sustainable development in the mobility sector, marking a notable collaboration between two powerhouses in their respective fields.
Hinduja Tech’s recent acquisition of Drive System Design, a specialist in e-powertrain design from the UK and US, further exemplifies the company’s commitment to advancing in the fast-evolving mobility sector.
PEVCJournal.com