US-based Southco Inc has completed the acquisition of manufacturing company Darshana Industries Pvt. Ltd.
The acquisition was completed for $50 million and this was Southco’s first investment in India.
Lincoln International Advisors Pvt Ltd was Darshan’s exclusive financial advisor in this transaction.
US-based Southco has been a global leader in the design, manufacturing and sales of access hardware for the past 75 years. It has served over 100k customers in 83 countries, with sales, engineering, and customer support in 30+ countries and 17 manufacturing and stocking locations in 9 countries.
Pune-based Darshana Industries was founded in 1982, It is a trusted supplier to a wide range of industries including transportation, off-highway, telecommunications and industrial equipment.
With this acquisition, Southco’s position as a leading access hardware manufacturer and supplier in this critical area is poised for strong business growth.
“We are excited to welcome Darshana to the Southco family and feel privileged to continue their heritage. We are committed to successfully growing the Darshana brand in India and beyond,” said, Philip Kempson, managing director for Europe and India, Southco.
“With the support of our team, Darshana has grown to become a leading player in its segment in India. We are excited at the opportunity for Darshana to enter the next phase of growth with the help of Southco’s global footprint and expertise. We appreciate Lincoln’s efforts in putting together this transaction and assisting the shareholders throughout the entire process to achieve the best possible outcome for the business and its employees,” said, NileshPatil, principal shareholder and director of Darshana.
“This transaction is a great testament to how niche, family-owned businesses in India continue to be very attractive for global companies. At the other end of the spectrum, such global partnerships offer a platform for the continued growth of family-owned businesses and their employees and other stakeholders. The transaction demonstrates Lincoln’s ability to effectively leverage our global network in finding a right partner and successfully executing cross-border transactions,” said, Preet Singh, Managing Director at Lincoln.
About Darshana Industries
Darshana Industries started in 1982, is an ISO 9001-2008 organization, specialising in the manufacture of Plastic, Zinc moulded and Steel components.
Situated in Pune, Maharashtra, India, ‘Darshana’ has in-house facilities for R&D, Design, Prototyping, Manufacturing and Testing.
About Southco Inc
Southco, Inc. is the leading global designer and manufacturer of engineered access solutions. From quality and performance to aesthetics and ergonomics, they understand that first impressions are lasting impressions in product design.
For over 70 years, Southco has helped the world’s most recognized brands create value for their customers with innovative access solutions designed to enhance the touch points of their products in transportation and industrial applications, medical equipment, data centers and more. With unrivalled engineering resources, innovative products and a dedicated global team, Southco delivers the broadest portfolio of premium access solutions available to equipment designers throughout the world.