We are pleased to announce that Craftsman Automation Limited (“Craftsman”), based in Coimbatore, Tamil Nadu, with a near 40-year pedigree and one of India’s leading manufacturers of high-quality complex precision engineered machined components for automotive and industrial customers worldwide, has successfully acquired Sunbeam Lightweighting Solutions Private Limited (“Sunbeam”). The acquisition is aligned with Craftsman Automation’s strategy to expand its presence in the high growth lightweighting segment. Sunbeam’s established expertise in aluminium die-casting complements Craftsman’s existing strengths in precision machining, supplements its existing customers for aluminium products in the PV segment, augments export clienteles for aluminium products and will further bolster its ability to provide integrated solutions to automotive customers both in India and globally.
Sunbeam (Sunbeam Auto Pvt. Ltd.) was established in the year 1986 and is a prominent manufacturer of aluminium die-casting components, primarily catering to leading original equipment manufacturers (OEMs) in the passenger vehicle (PV) and two-wheeler (2W) segments. The company has built a strong reputation for its advanced manufacturing capabilities, enabling the production of lightweight components that help OEMs meet stringent emission and fuel efficiency standards. Sunbeam has a significant presence in North India, with facilities in Gurgaon, Bhiwadi, Ludhiana, Bawal, and Halol. This acquisition significantly expands Craftsman’s presence in North India.
Mr. S. Ravi, Chairman and Managing Director of Craftsman, said, "We are excited to welcome Sunbeam into the Craftsman family. This acquisition will significantly strengthen our position in the aluminum die-casting market and enable us to offer a broader range of solutions to our customers in the automotive industry. Additionally, it will expand our presence in North India, allowing us to better serve our customers in the region. We deeply appreciate Spark Capital’s role in facilitating this strategic acquisition and supporting us in executing this complex transaction involving multiple stakeholders at Sunbeam, viz., investor, employees, lenders, vendors, etc."
For more information about Craftsman, please visit: https://www.craftsmanautomation.com/
Spark Capital Advisors (India) Private Limited ("Spark Capital") served as the exclusive financial advisor to Craftsman on this transaction. Spark Capital initiated the discussions with the investor shareholder and provided comprehensive financial advisory services to Craftsman including ideating the transaction structure that evolved overtime; anchored and led complex negotiations with multiple stakeholders of Sunbeam; supported in regulatory approvals including from the Competition Commission of India; and other customary services including presenting the preliminary non-binding offer to coordinating due diligence and transaction closure. With this acquisition, Spark Capital continues its long-standing relationship with Craftsman, having advised in the past on private equity capital raises, its IPO, and earlier acquisitions.
Prasanna Srinivasan, Managing Director & Practice Head, Industrial & Logistics, Spark Capital, said, "The acquisition of Sunbeam by Craftsman is a strategic move that will reinforce Craftsman’s market leadership in aluminium die-casting. This deal reflects the ongoing consolidation in the automotive supplier space, where synergies in technology and production capabilities are becoming increasingly important. We are proud to have supported Craftsman in this transaction, further strengthening our partnership with Craftsman. This is our second transaction in the aluminium die-casting space this year, having previously assisted Craftsman in acquiring DR Axion India."