Carlyle combines India's Highway, Roop to build global auto parts platform

New entity will have a portfolio of more than 1,500 products, clients in 17 countries

Carlyle Group has acquired controlling stakes in India’s Highway Industries and Roop Automotives, combining the two manufacturers to form a diversified global automobile components platform, said the investment company in a statement.

 

The deal was executed through Carlyle Asia Partners and continues the company’s bet on India’s advanced manufacturing sector. The transaction amount was not disclosed in the statement.

 

Highway and Roop manufacture forged and precision-machined components, steering assemblies, and power train parts for electric, hybrid, and internal combustion engine vehicles. The platform will have a portfolio of more than 1,500 products, clients in 17 countries, and 12 plants and 14 international warehouses.

 

Carlyle plans to “deepen its footprint” in auto components and expand the platform through further acquisitions. The founders of Highway and Roop will hold stakes in the platform. Mohit Oswal, managing director of Roop, will be non-executive chairperson in the new entity.

 

“We believe India offers a tremendous opportunity in the advanced manufacturing sector, particularly in the auto components supply chain for both domestic and export markets,” said Amit Jain, managing director and head, Carlyle India Advisors. “We believe creating scale with consolidation will enable investments in technology, talent and systems, which will allow the platform to deliver an enhanced value proposition for its customers.”

 

The platform will benefit from Carlyle’s global network and operational expertise. The new entity’s board will also include Mark Blaufuss, an industry veteran with more than 30 years of experience, and Kishore Saletore, former executive director and group chief financial officer at Bharat Forge.

 

The deal is part of Carlyle’s broader push into industrials. The firm has invested more than $32 billion in the sector globally, including $1.1 billion in Asia as on December 31, 2024.