Endurance Tech on an acquisition spree, buys Italian braking solution specialist Grimeca
May 25, 2020
Aurangabad-based tier 1, Endurance Technologies has made another acquisition in a span of two months. Endurance Tech has acquired 100 percent stake in Italy-based Grimeca, through Endurance Adler, Italy its step-down subsidiary of and a direct subsidiary of Endurance Overseas, Italy with an effective date of May 21,2020. It may be recollected that Endurance Technologies had acquired a controlling equity stake of 99% for 3.5 million euros (Rs 29 crore), in Adler SpA in April 2020 . Grimeca is an advanced service company involved in designing and developing new braking products for motorcycle and light-vehicles, including ‘co-design’ with OEM customers. Since 2015, Grimeca has been a technology provider for braking solutions to Endurance Tech. Grimeca is a leading supplier for global motorcycle brands, which it says is thanks to its expertise and skills in the manufacture of light-alloy cast components for frames, integral wheels, brake master cylinders and callipers, hubs, braking systems and of state-of-the-art brake discs made of stainless steel, or what is referred to as ‘high-risk’ products. The company says its customer base includes world-renowned marque brands such as – Aprilia, Benelli. Betamotor, BMW, Derbi, Ducati, Fantic Motor, Moto Guzzi, Honda, Husqvarna, Kymco, KTM, Mbk, Mv Agusta, Peugeot, Piaggio, Rieju, Suzuki, and Yamaha among others. The Italian company has developed manufacturing technologies in the field of steel and aluminium components, which it says bring competitive advantages to customers’ projects while ensuring low costs, stable and repeatable production cycles and the achievement of safety and performance targets of the project. This also is the case of light alloy aluminium motorcycle components, for which Grimeca says its technology, compared with standard production cycles, allows for a strong simplification of some production phases or even for the elimination of some phases of the cycle itself. Endurance Technologies says this strategic acquisition aims to strengthen technological prowess of the company in the area of braking systems. The acquisition has been completed for a consideration of 2.25 million euro (Rs 18.6 crore), which includes 0.9 million euro (Rs 7.4 crore) for the 100 percent stake in Grimeca and 1.35 million euro (Rs 11 crore) for the technical know-how and intellectual property rights of braking systems and chassis components, and the “G Grimeca” brand. Endurance Technologies expects the acquisition to provide impetus to the growth opportunities for its braking business in India, both for domestic and export markets.