Endurance Technologies has purchased Adler, an Italian auto equipment and parts maker, for €3.5mn ($3.79mn).
Under the agreement, Endurance Overseas Srl, a subsidiary created by Endurance for the purpose of this acquisition, will hold a 99pc stake in Adler.
The Indian aluminum casting and braking products manufacturer already has seven manufacturing plants in Italy and three in Germany. Adler’s acquisition will add products like clutches, plates, and gears to Endurance’s portfolio, while strengthening its reach into the European market as well as the domestic Indian auto parts market.
Adler’s manufacturing plant is in Roverto, Italy and mostly produces transmission systems for the automotive industry. Endurance indicated in a press release that the acquisition was also important from a technological standpoint because it is accessing the Italian company’s technical know-how and R&D through this purchase.
Adler will be renamed Endurance Adler SpA upon completion of the acquisition.