DK Business Network
In a significant development in the Automotive sector, The Carlyle Group, a leading global investment firm, has finalized the acquisition of majority stakes in Roop Automotives Limited and Highway Industries Limited (HIL) in a transaction valued at $400 million. This strategic move is aimed at consolidating Carlyle’s presence in the auto components industry, with the firm now holding a 65-70% stake in the newly established platform entity that integrates these two companies.
The deal saw the involvement of top-tier law firms, with Trilegal advising Carlyle on the acquisition. The Trilegal team was spearheaded by Partner Ms. Sneha Vardhan, with Counsel Mr. Shubhaang Sinha and Mr. Vyshnav Karthik playing key roles, supported by Senior Associates Mr. Archit Gupta and Mr. Vishesh Mehrotra, alongside Associates Ms. Drishti Rajain, Ms. Sakshi Rajawat, Mr. Jatin Soni, Mr. Tanay Saluja, and Ms. Shreya Khandelwal. Several specialists also provided their expertise, including Mr. Atul Gupta and Ms. Kanishka Maggon (Labour & Employment Partners), Mr. Rahul Arora (Real Estate Partner), Ms. Kirti Balasubramanian (IP Partner), Ms. Jyotsana Jayaram (TMT Partner), Mr. Rajat Jariwal (Environment Law Partner), Ms. Anusha Ramesh (Litigation Partner), and Ms. Gauri Chhabra (Competition Partner).
On the other side, Cyril Amarchand Mangaldas acted as legal counsel to Roop Automotives and its existing promoters Mr. Mohit Oswal and Mr. Gaurav Jain. The legal team was led by Partners Ms. Anchal Dhir, Ms. Aditi Manchanda, and Mr. Jay Parikh, supported by Senior Associate Mr. Varun Kannan and Associate Ms. Swini Khara. Additional expertise in Competition Law was provided by Partner Ms. Avaantika Kakkar and Mr. Dhruv Rajain, with Senior Associate Ms. Swaha Sinha assisting. Mr. Arun Prabhu (Technology & Data Protection), Ms. Swati Sharma (Intellectual Property), and Mr. Bishen Jeswant (Employment Law) also contributed.
Touchstone Partners represented HIL and its promoters, with a legal team headed by Managing Partner Mr. Karam Daulet-Singh and Partner Mr. Gaurav Desai, alongside Associates Ms. Aastha Saily, Ms. Anjani Tewary, and Ms. Juhi Hirani. Roop Automotives is a leading manufacturer of steering and drivetrain components, catering to both domestic and international OEMs, Tier 1, and Tier 2 suppliers. Meanwhile, HIL specializes in high-precision steel forging components, supplying two-wheeler, four-wheeler, tractor, off-road vehicle manufacturers, and white goods manufacturers. This acquisition marks a strategic consolidation in the Indian automotive sector, with Carlyle positioning itself for long-term growth and expansion in the industry.