M&A

M&A

Rane (Madras) to acquire friction biz of Hindustan Composites for Rs.370-Cr

Press Release   Business Standard  

Chennai-based, publicly listed Rane (Madras) is to acquire the friction business of Hindustan Composites on a slump-sale basis for an enterprise value of INR 370 crore. Singhi Advisors acted as the exclusive financial advisor for the acquisition.Hindustan Composites supplies friction materials, including brake linings, brake pads, brake blocks, and clutch facings, to the automotive, railway, farm tractor, and industrial sectors. The business operates two manufacturing facilities in Paithan and Bhandara, both in Maharashtra, and maintains a pan-India distribution network. In FY26, the business reported revenue of INR 315.04 crore and a profit before tax of INR 40.29 crore.Rane (Madras) intends to use the acquisition to integrate complementary operations and expand its reach across aftermarket channels, fleet operators, and distributors. The company plans to acquire the "COMPO" brand as part of the transaction, which is expected to create a unified friction materials business with revenue exceeding INR 1,000 crore.