KKR acquires controlling stake Alliance Tyre Group

Stake bought from affiliate of Warburg Pincus, founder Yogesh Mahansaria to continue to hold ownership stake

Global private equity major firm KKR is acquiring a controlling stake in Alliance Tire Group, a global tyre-maker specialising in producing off-highway tyres, from an affiliate of Warburg Pincus. According to agreement, Yogesh Mahansaria, founder of ATG, will continue to maintain an ownership stake in the Company and partner with KKR to continue to grow the business.

Though the deal size was not disclosed, it is learnt that KKR has paid about $450 million for the Alliance stake.

“ATG is a leader in an attractive industry with strong underlying growth drivers. We look forward to leveraging our global network to support their continued growth,” said Sanjay Nayar, Member of KKR and Head of KKR India.

Employing more than 2,500 people worldwide, ATG is a developer, manufacturer and supplier of a wide range of off-highway tyres, catering primarily to the agricultural, forestry and construction industries. ATG's tyres are manufactured at facilities in Israel and India, with R&D facilities in Israel, India, the United States and South Africa. The Company’s products are available in more than 120 countries, and it sells under the brand names Alliance, Galaxy and Primex.