Samvardhana Motherson International Ltd announced three acquisitions worth over Rs 380 crore in the aerospace, health, and medical sectors on Oct 20 to further strengthen its non-automotive businesses. Samvardhana Motherson International Ltd (SAMIL) said in a statement that its aerospace division is building its capabilities in a phased and strategic manner, allowing it to offer a much broader range of services to aerospace OEMs. The company paid 35 million Euros (around Rs 310 crore) for the acquisition of the French company ADI Group, which has Moroccan and Tunisian subsidiaries and primarily manufactures components for aircraft engines and medical devices.
AD Industries manufactures a wide variety of components and subassemblies and has diverse capabilities across four key divisions: sheet metal, hydraulics, mechanical assemblies, and composites. Motherson has also purchased the aerospace defence and security firm SMAST for nearly Rs 25 crore. It also completed the acquisition of Cirma, based in France, this year, in addition to CIM Tools in 2022.
Motherson announced the acquisition of Irillic Pvt Ltd, a company that designs, develops, manufactures, and distributes real-time fluorescence imaging and 4K laparoscopy imaging systems for the medical device ecosystem.
The agreement calls for a Rs 46.6 crore investment via a combination of primary infusion and secondary acquisition. SAMIL will hold 74.19 percent of Irillic's share capital after the transaction closes, translating to 73.05 percent on a fully diluted basis, according to the company.