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setco.com

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About Setco

Setco is owned by Holden Industries, a 100% Employee-Owned Company headquartered in Deerfield, Illinois, USA. Holden Industries operates four wholly-owned subsidiaries which comprise four core business areas. Setco has designed, built, and serviced precision spindles and slides and is recognized worldwide as a technical leader in design and manufacturer of precision spindles and spindle/slide combinations. Setco is a major spindle manufacturer with over 250,000 spindles in the field - new and rebuilt - which include belt-driven, geared, motorized, high speed and high frequency models. In addition, Setco offers a complete line of precision linear slides which include dovetail, hardened way and linear rail slides in 21 standard sizes and hundreds of standard catalog models. Setco products are used worldwide in a variety of industries; including automotive, aerospace, construction, die/mold, cabling and winding, plastics, woodworking, stone cutting and general metalworking industries.

Setco Headquarter Location

5880 Hillside Ave

Cincinnati, Ohio, 45233,

United States

800-453-0470

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Latest Setco News

Setco Group to gain Rs 615 crore investment from IndiaRF

Sep 9, 2021

The India Resurgence Fund (“IndiaRF”), which is co-founded by Piramal Enterprises Limited and Bain Capital Credit, and its affiliates, made a Rs 615 crore investment in Gujarat-based Setco Group. Setco Automotive Limited (“Setco”) will transfer its clutch business to a subsidiary, Setco Auto Systems Private Limited (“SASPL”), into which IndiaRF would invest through a senior loan facility and a 35 percent equity investment in SASPL as part of the deal. The investment proceeds will be utilized to provide growth capital and working capital to enable firms to expand on the basis of expected commercial vehicle market recovery, satisfy replacement market demand, and refinance or repay debt facilities. Commenting on the investment, Shantanu Nalavadi, Managing Director, IndiaRF said, “We are pleased to partner with Setco Automotive, as it embarks on an exciting journey to enhance its market leadership. Our partnership will drive a twofold strategy to restructure the balance sheet of the company as we also work closely with the promoters and management team, to drive rapid revenue growth and sustainable improvement in profitability. IndiaRF remains focused on providing long-term strategic solutions that enable an effective turnaround to profitability for high-quality companies.” Harish Sheth, Chairman, and Managing Director, Setco Automotive said, “We are delighted to partner with IndiaRF at this critical juncture in Setco Automotive’s journey. We look forward to leveraging their proven global expertise in restructuring and turnarounds and are certain that our combined efforts will help accelerate our ambitious growth trajectory towards improved performance and profitability benefiting all its stakeholders. IndiaRF’s investment will bring in significant strategic operational improvement in both SASPL and Lava Cast.” Setco Group is a forward-thinking, technology-driven automotive component manufacturer specializing in clutches for commercial vehicles for original equipment manufacturers (“OEMs”), as well as aftermarket for OEM brands and the independent aftermarket. SASPL controls the majority of the clutch business in India for Medium and Heavy Commercial Vehicles. SASPL has just expanded into the tractor industry and has begun supplying a few tractors OEMs, with a few more on the way. Setco Group is also backward integrated, with a state-of-the-art casting facility situated in a wholly-owned subsidiary, Lava Cast Private Limited (“Lava Cast”). SHARE

Setco Acquisitions

1 Acquisition

Setco acquired 1 company. Their latest acquisition was NEO Precision Tech on February 14, 2013.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

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Sources

2/14/2013

Acquired

1

Date

2/14/2013

Investment Stage

Companies

Valuation

Total Funding

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Acquired

Sources

1

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