Global investment firm Carlyle has acquired a majority stake in Highway Industries Limited and Roop Automotives Limited, marking a significant step in its expansion within India’s auto components sector. The acquisition, announced on February 13, 2025, was completed through Carlyle Asia Partners.
This strategic move brings together two key players in the manufacturing of forged and precision-machined components, which serve electric, hybrid, and internal combustion engine vehicles. The newly formed entity now operates 12 manufacturing plants and 14 international warehouses. It provides over 1,500 products to more than 55 customers in 17 countries.
The founders of both Highway Industries and Roop Automotives will retain ownership stakes in the combined company. Mohit Oswal from Roop Automotives will serve as the Non-Executive Chairperson, while Mark Blaufuss (Carlyle Operating Executive) and Kishore Saletore (former Executive Director & Group CFO of Bharat Forge) will join the board.
Amit Jain, Managing Director & Head of Carlyle India Advisors, emphasized India’s potential in advanced manufacturing. He added that the firm’s focus is on scaling operations and enhancing customer value through synergies between the two companies.
This acquisition highlights Carlyle’s long-term commitment to India’s manufacturing sector. As of December 31, 2024, Carlyle’s buyout funds, including Carlyle Asia Partners, had invested over $32 billion in more than 125 global deals within the advanced manufacturing sector, with $1.1 billion directed towards investments in Asia.
Highway Industries and Roop Automotives, with more than 30 years of industry experience, bring strong technological expertise to the newly formed platform. Together, they aim to expand their product offerings and global presence.
Carlyle was advised on the deal by KPMG, Trilegal, Kotak, and Deloitte. Singhi Advisors and KPMG acted as financial advisors to the shareholders of Highway Industries and Roop Automotives. The financial terms of the transaction were not disclosed.
Carlyle (NASDAQ: CG) is a leading global investment firm specializing in private capital across three key segments: Global Private Equity, Global Credit, and Global Investment Solutions. With $441 billion in assets under management as of December 31, 2024, Carlyle focuses on strategic investments that create long-term value for investors, portfolio companies, and communities. The firm operates globally with a team of over 2,300 professionals across 29 offices worldwide.
