Source : PTI | RSB Transmissions, a Bain Capital-backed automotive components platform, on Monday announced it has completed the acquisition of Setco Auto Systems, a supplier of clutch systems and aftermarket drivetrain solutions for medium and heavy commercial vehicles.
Setco Auto Systems Private Limited was a subsidiary of Setco Automotive Limited (SAL).
The acquisition marks a significant step in RSB’s strategy to scale its presence in the automotive components sector and build a systems-led, multi-product platform with leadership across the original equipment manufacturer (OEM) and aftermarket segments, the company stated.
In line with the transaction, SAL has also approved a proposal to transition away from the “Setco” brand and change its corporate name to “Shilayan Industries Limited,” subject to requisite approvals.
R K Behera, Chairman, RSB Group, said, “This acquisition represents a significant milestone in executing our platform strategy, reinforcing our commitment to creating a differentiated, systems-led automotive components player. We see a compelling strategic fit across operational capabilities, product scope, and customer reach, with multiple levers to drive synergies and sustainable value creation for all stakeholders.” PTI RSN SHM SHM
