Mumbai, February 16, 2024: Remsons Industries Ltd., a pioneer in Cables & Shifters for Automotive Industry, has agreed to make a Majority Investment in the Automotive Sensor Division of Uni-Automation, a renowned sensor technology firm. This strategic move marks a significant milestone in Remson’s commitment to innovation and expansion within the Automotive and Off-Highway Industry.
The proposed investment aligns seamlessly with Remson’s mission to deliver cutting-edge solutions that meet the evolving needs of its customers. With Uni-Automation’s expertise in sensor technology, Remsons is poised to strengthen its position as a manufacturer of Complete Systems with Embedded sensors.
The new offering of products will help widen Remson’s portfolio of offerings to domestic as well as global customers. The automotive sensor market has been growing on two counts. One deep penetration of embedded technology on legacy platforms. Second, increased adoption of Electric Vehicles which have higher per-unit sensor requirements. Since Sensor requirements are platform agnostic, entering into this technology gives a fillip to Remsons’ new offerings to its customers.
“We are thrilled to welcome Uni-Automation into the Remsons family,” said Rahul Kejriwal, Executive Director, Remsons. “Their exceptional track record in developing state-of-the-art sensor technologies complements our existing capabilities perfectly. This proposed investment underscores our commitment to providing innovative solutions and enhancing our ability to address the complex challenges faced by our customers.”
“We are excited to join forces with Remsons and embark on this new chapter of growth and innovation,” said Vidhyadhar Mahajan, Chairman, of Uni-Automation. “By combining our expertise with Remson’s resources and market reach, we are confident that we will unlock new opportunities and deliver even greater value to our customers.”
“This proposed investment is in line with Remson’s philosophy of inorganic growth into Fuel Agnostic products. This is also partly complimenting to our existing product line and a diversification into future technology products. We also plan for further acquisitions and JV’s to complement and add to the above portfolio,” said Amit Srivastava, Remsons Group CEO.
For the transaction, KDA Corporate Advisors LLP acted as the transaction advisor & DBS Law acted as the legal advisors to Remsons Industries Ltd.