Bain Capital buys minority stake in auto components firm Dhoot Transmission

Private equity firm says investment will help Aurangabad-based manufacturer to expand globally

Bain Capital has acquired a minority stake in Dhoot Transmission, an Aurangabad-based manufacturer of automotive components, for an undisclosed valuation, said the private equity firm in a statement.

 

The investment will use Bain's global expertise to expand Dhoot Transmission 's "global footprint" through acquisitions and partnerships, drive innovation and bolster its presence in high-growth segments such as electric vehicles (EVs), it said.

 

Dhoot Transmission, founded in 1999, produces wiring harnesses for two- and three-wheelers, components for commercial vehicles, and farm equipment. Over the years, the company has diversified into EV products, including Lithium-ion batteries.

 

“Partnering with Bain Capital is an exciting opportunity. Their strategic expertise and integrity make them the perfect partner to help us scale globally and pursue emerging opportunities that deliver value to our customers worldwide,” said Rahul Dhoot, founder and chief executive officer of Dhoot Transmission.

 

Bain Capital has one of the largest private equity teams in India, with investments in Hero MotoCorp, RSB Transmissions, Porus Labs, 360one Wealth, CitiusTech, J.M. Baxi and Quest Global.

 

"Over the past two decades, Rahul has built Dhoot Transmission Group into a market leader, serving as a critical partner to OEMs [original equipment manufacturers] powering India’s two-wheeler market, the largest in the world with a strong growth trajectory," said Rishi Mandawat, partner, Bain Capital.

 

According to the statement, Dhoot Transmission operates 20 manufacturing facilities in India, the United Kingdom, Slovakia and Thailand. It employs more than 10,000 people.

 

"Their customer-first approach and strong employee engagement has helped the group to build a leading auto-component business and together, we see significant opportunities to expand both organically and inorganically, accelerate exports, and enhance their global footprint,” said Saahil Bhatia, managing director, Bain Capital.