Amtek

Crossing international borders to make a strategic acquisition is a major step for any company. For Amtek Auto Limited, acquiring a German-based machining company offered the prospect to surge ahead in Western markets.

Crossing international borders to make a strategic acquisition is a major step for any company. For Amtek Auto Limited, acquiring a German-based machining company offered the prospect to surge ahead in Western markets.

Amtek is a leading automotive components manufacturer with operations in India, the USA and Europe. The company wanted to expand its footprint across Europe and establish a physical presence closer to European automotive manufacturers and customers. This action would complement Amtek’s global activities and bolster its manufacturing capacity outside India.

Amtek’s existing long-term relationship with Clearwater led to an approach for support acquiring Zelter GmbH, a Cologne-based specialist turbo-charger machining company. Clearwater and IMAP Germany worked jointly to establish the relationship and subsequently negotiate structure and price the complex deal with the vendors over a six-month period.

The Amtek acquisition is just one example of an increasing number of purchases by Indian companies in Europe.

John Flintham, CEO of worldwide operations at Amtek, commented:

“Clearwater was helpful in all aspects of the deal – from the opening introduction to closure. The performance of the business has been pretty much in line with our expectations, which is a big bonus.”