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This acquisition aims to enhance global competitiveness and expand SI Air Springs' presence in the European market.
Date: July 1, 2024
Chennai-SI Air Springs Pvt. Ltd., a subsidiary of TVS Mobility, has acquired Roberto Nuti Group, a Bolognese group that manufactures and markets suspension systems mainly for heavy vehicles in the aftermarket.
The agreement involves TVS Mobility acquiring Roberto Nuti Group completely through its wholly owned Indian subsidiary, SI Air Springs Private Limited. The agreement also includes investments intended to fully relaunch the company. SI Air Springs is a pioneer in India, specializing in air spring solutions for both automotive and rail industries.
TVS Mobility extends its footprint into Europe through affiliated businesses within the group, including TVS Supply Chain Solutions (headquartered in the UK, with operational subsidiaries in Italy, Germany, Spain, among others) and TVS Srichakra Ltd (Italian branch in Milan focusing on the tyre business, featuring Eurogrip branded products).
The collaboration between TVS Mobility group companies and Roberto Nuti Group is projected to generate substantial synergies. It aims to expand Roberto Nuti Group's product portfolio, enhancing its competitiveness in the global market.
Mr.Luca Randighieri, The General Manager of the Nuti Group, said, "We are excited about the international growth potential this agreement brings us and we are confident that joining forces with SI Air Springs will allow us to take advantage of their capabilities. Both companies will continue to operate normally during the integration period, and we are committed to ensuring a smooth transition for all our stakeholders."
Mr.P. Srinivasavaradhan, Director of SI Air Springs, said, "We are thrilled to welcome the Roberto Nuti Group into the TVS Mobility family. 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"
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