Warburg, Yogesh Mahansaria buy Israeli firmBS Reporter / Mumbai July 11, 2007Alliance Tire Company, based in Hadera, Israel, has been acquired by Warburg Pincus, the global private equity firm, and Yogesh Mahansaria, former CEO of Balkrishna Tyres. According to a release issued today, the transaction was valued at approximately $150 million. Warburg Pincus and the Mahansarias envisage that additional capital will be invested to fund future expansion and development of low-cost sourcing capabilities in India. A greenfield facility is proposed to be set up in India to augment the existing production in Israel for the manufacture of specialty, off-highway tires. "The transaction represents a unique combination of an Indian entrepreneur partnering with a global private equity firm in acquiring assets overseas. The transaction combines a leveraged buy-out with the provision of growth capital," the release added. Yogesh Mahansaria said:
