Mahesh Singhi
Singhi Advisors Pvt. Ltd.
Team Concept
Deal Type
Company sale
Sector
Industrials
Completion Date
28th November 2017
Deal Value
$15m
Company Background
Team Concepts Pvt. Ltd., made its humble beginning to manufacture auto accessories in the year 2000. The factory is situated at Bangalore, India. The company is recognized as a premium auto accessories manufacturer among OEMs and after market. The products are designed and developed to suit Indian road conditions and are known for its quality, elegent design, safety and utility. Hiker is the registered brand of TCPL.
Deal Summary
Advised TeamConcept as Exclusive advisors in the transaction: VARROC Polymers, div of US $ 1.5 Bn VARROC Group, acquires strategic stake in Bengaluru based Team Concepts Pvt. Ltd a niche manufacturer of premium auto accessories for OEM and Aftermarket.
Varroc through this acquisition will enter into lucrative premium auto accessories market which is ~ INR 5,000 Cr in FY 16 and estimated to grow to ~ INR 10,000 Cr by 2020. Varroc aims to double the turnover of TCPL from current level to ~100 Cr in next 2 yrs by making it a multi-location, multi- products premium auto accessories manufacturer.
This strategic stake is part of Varroc strategy to diversify its domestic businesses towards four wheelers and after market segment, to add to the leadership position being enjoyed by them in the two-wheeler segment.
Team Concept deal contacts
Key members of the Singhi Advisors Pvt. Ltd. deal team crucial in the Team Concept transaction
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