Fontana Gruppo, Bagla Group form strategic partnership for fasteners busine
Date: 07 Sep 2015
Fontana Gruppo, Italy and
Bagla Group have signed definitive agreements to enter into a strategic
partnership for Fasteners Business in India.
The Bagla Group, led by Rishi Kumar Bagla, is a leading automotive
component supplier based in Western and Northern India and has interests in
aluminum die casting, automotive fasteners, automotive electricals,
refrigeration products. The group has
several domestic automotive OEMs as customers including Bajaj, Fiat,
Volkswagen, Maruti etc. as well as international OEM and Tier 1 customers
including Chrysler, Rotax, GPM, Magna, OMR etc.
The Fontana Gruppo of Italy is
the global technology leader in Fasteners Business, having revenues of about 1
billion USD, over 4,200 employees and 20 production plants based in Europe, in
the United States, in Mexico, in Brazil and now in India as well as a sales
organisation in all continents. Its key
customers are most of the world leading OEMs including FCA, Volkswagen Group,
Ford, General Motors, Caterpillar, RNPO, PSA, Daimler, BMW, Tata, CNH, Cummins,
Bajaj and the most important Tiers 1 and General Industries. Fontana Gruppo has
substantially scaled up its international operations through the acquisition of
Acument Global Technologies in 2014, the largest fasteners company in the USA,
with plants in the USA, Mexico and South America, and is now focused on
expanding in key Emerging Markets of the world.
Speaking on the occasion,
Giuseppe Fontana, Vice Chairman of Fontana Gruppo, noted, “The strategic
partnership with Bagla Group in India is a key milestone in our strategy to
increase our footprint in Emerging Markets. India is the most promising economy in the
world at this stage and we are committed to serve our global customers having a
presence in India. Additionally, the
Fontana Gruppo proposes to use the local manufacturing capabilities and
engineering expertise in India to serve its customers in various countries.”
Rishi Kumar Bagla remarked
that, “The partnership with Fontana Gruppo would enable the fasteners business
of Bagla Group to acquire necessary technological expertise, size and scale, to
become the largest fasteners manufacturer in India. We are excited to partner with the most
reputed fasteners company in the world and bring joint expertise of global
technology and Indian manufacturing to automotive and industrial
customers. This partnership is in line
with the ‘Make in India’ initiative being aggressively promoted by the Indian
government and will endeavor to become a preferred supplier of high quality
fasteners to customers across the globe.”
BMR Advisors, together with
its Italian network firm, Translink Corporate Finance acted as financial and
structuring advisors to the Bagla Group, while BMR Legal was the Legal advisor
to the Bagla group.
CFO SIM and Yarpa acted as
financial advisors to Fontana Gruppo. Studio Santa Maria and Dua Associates
were the Legal advisors to Fontana Gruppo.
Source: Bagla Group