Accelerator Group LLC (“Accelerator”) is pleased to announce that its client, global automotive component manufacturer, Spark Minda, Ashok Minda Group”(“Minda”) has entered has entered into a Joint Venture partnership with Vehicle Access Systems Technology LLC. (“VAST”) USA.
This joint venture entity between two groups is Minda VAST Access Systems Private Limited (“Minda VAST”) and has operations in Pune, India and Delhi-NCR, India.
Accelerator was the exclusive advisor to Spark Minda, Ashok Minda Group for this transaction.
Mr. Ashok Minda, Group CEO, Spark Minda, Ashok Minda Group commented: “We are delighted to have partnered with VAST. The strategic alliance is a step towards ensuring support to meet the expectation of targeted and strategic customers. VAST’s global presence will help us to reach out to more areas and expand our base & offer new technology with latest products to our Customers.
Mr. Sanjay Thapar, Group Chief Strategy Officer, Spark Minda, Ashok Minda Group remarked: “Accelerator proved to be an invaluable adviser for this deal and contributed significantly in terms of the deal construct and consummation of the deal through creative solutions leading to a win - win for both Minda and VAST. They leveraged industry access, deep domain knowledge and experience to conduct a well-tailored and confidential process.”
Frank Krejci, President & CEO of STRATTEC and a board member of VAST LLC observed: “This is a very important step forward in the strategic strengthening of VAST. India is projected to be one of the fastest growing economies globally. In addition to the growth opportunities, it is important that VAST is able to properly support the global needs of our automotive customers as they expand both their manufacturing and marketing. We are very excited to join a partner with the history of success and capabilities of Minda and its affiliates. We appreciate the work that Accelerator did in facilitating this opportunity. Their demonstrated understanding of the cross-border deal making, businesses, processes, and market was critical in allowing for a seamless transaction.”
Spark Minda, Ashok Minda Group is one of the leading manufacturers of automotive components for the OEMs. The US $500 million Group, with 11,200 employees caters to the leading two and four-wheeler vehicle manufacturers in India & overseas markets including Europe, CIS & ASEAN countries. The Group has significant presence with 27 plants in India and 6 plants in overseas locations including Germany, Poland, Czech Republic, Indonesia, Vietnam, Uzbekistan & offices in Russia and Japan.
VAST, USA is a highly qualified, global supplier of security/ access control products for the motor vehicle industry. The Group is an alliance of three Member Organizations, which include WITTE Automotive from Velbert/ Germany, STRATTEC Security Corporation from Milwaukee/ WI and ADAC Automotive from Grand Rapids/ MI (both USA) with cumulative revenue of $1.2 billion and with over 8,000 employees. It also has a presence in Brazil & China.
Accelerator Group LLC is an investment banking and merchant-banking firm with offices in Troy, Michigan, Miami, FL and Gurgaon, India. It specializes in cross border strategic alliances in addition to the domestic alliances in United States and India. Its partners have significant domain knowledge and expertise in manufacturing (automotive, industrial, aerospace), healthcare (services, devices) and food & agri sectors. Its Knowledge Services Group offers research and analysis services.
Troy, MI, USA Miami, FL, USA Gurgaon, India
www.agroupllc.com
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