M&A
Samvardhana Motherson to buy 51% stake in car seat cover maker Saddles for Rs.207-Cr
Samvardhana Motherson International Ltd (formerly Motherson Sumi Systems) will acquire a 51% stake in Bengaluru-based Saddles International Automotive and Aviation Interiors Pvt Ltd for an enterprise value of INR 207 crore. Saddles International is engaged in the business of manufacturing premium upholstery for applications such as passenger vehicles seat covers, covers for gear knobs and wrapping solutions for door trims. The company reported revenues of INR 320 crore in FY22. With about 900 employees, the company operates six facilities in India across Bengaluru, Gurugram, Pune, Ahmedabad, and Chennai.
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