Bharat Forge Announces Definitive Agreement to Acquire JS Autocast Foundry India

Amit Kalyani, Deputy Managing Director, Bharat Forge Ltd

Pune, India – Bharat Forge Ltd has signed a definitive agreement to acquire JS Autocast Foundry India Pvt Ltd (JS Auto), a leading and preferred supplier of crucial machined Ductile Iron castings for Wind, Hydraulic, Off-Highway, and Automotive applications, which was founded in 2004. JS Auto’s sales have increased at a CAGR of 17.7 percent during the last five years. In FY21, JS Auto made a sale of INR 259 crores.

Bharat Forge will acquire JS Auto for an upfront consideration (based on enterprise valuation adjustments) plus a fixed deferred payment at the end of the third year. The closing of the transaction is subject to customary closing conditions.

Amit Kalyani, Deputy Managing Director, Bharat Forge, said, “We are delighted to welcome the JS Auto team to Bharat Forge family and will look to leverage their capabilities, highly talented technical team, and strong customer connect to aggressively grow our presence in the industrial casting space. JS Auto will accelerate our diversification journey and enable in addressing the Decarbonization opportunity. This acquisition, along with the previous deal in the open die segment, significantly broadens our presence, capabilities, and product offerings in the industrial space.”

Image Source: Bharat Forge Ltd