M&A

M&A

Italy’s Fontana Gruppo to acquire precision-engineered fasteners maker RTF for Rs.1,000-Cr

Economic Times  

Italy-based Fontana Gruppo is set to acquire a 60% stake in Nashik-based Right Tight Fasteners (RTF) for INR 1,000 crore. RTF is into manufacturing automotive fasteners, supplying parts such as nuts, bolts and screws to Tata Motors, M&M, Ashok Leyland, Bajaj Auto, Royal Enfield and Ola Electric.The deal has been structured in two parts. RTF is acquiring Fontana Gruppo’s existing operations in India, BG Fastening, after which the Italian company will purchase 60% of the combined entity. RTF’s current management team will run the combined entity in India. RTF also plans to scale up its international presence by leveraging the partnership with Fontana Gruppo.