| Warburg, Yogesh Mahansaria buy Israeli firm |
| BS Reporter / Mumbai July 11, 2007 |
| Alliance 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: |
