Global investment firm Carlyle has acquired a controlling stake in Highway Industries Limited and Roop Automotives Limited, strengthening its position in India’s auto components manufacturing sector. The transaction, completed through Carlyle Asia Partners, was announced on February 13, 2025, in Mumbai and New Delhi.
This strategic acquisition merges two leading manufacturers of forged and precision-machined components catering to electric, hybrid, and internal combustion engine vehicles. The combined entity now operates 12 manufacturing plants and 14 international warehouses, supplying 1,500+ products to 55 customers across 17 countries.
The founders of Highway Industries and Roop Automotives will retain a stake in the merged entity. Mohit Oswal (Roop Automotives) will serve as Non-Executive Chairperson, with Mark Blaufuss (Operating Executive, Carlyle) and Kishore Saletore (former Executive Director & Group CFO, Bharat Forge) also joining the board.
Amit Jain, Managing Director & Head of Carlyle India Advisors, highlighted India’s advanced manufacturing potential, emphasizing the firm’s focus on scaling operations and enhancing customer value through synergies.
The deal underscores Carlyle’s long-term commitment to India’s manufacturing sector. As of December 31, 2024, Carlyle’s buyout funds, including Carlyle Asia Partners, have invested over $32 billion in 125+ global deals within the advanced manufacturing sector, with $1.1 billion invested in Asia.
With over 30 years of industry experience, Highway Industries and Roop Automotives bring strong technological expertise to the newly formed platform, aiming to expand product offerings and global reach. KPMG, Trilegal, Kotak, and Deloitte advised Carlyle on the acquisition, while Singhi Advisors and KPMG served as financial advisors to Highway and Roop shareholders. The financial details of the deal were not disclosed.
Carlyle (NASDAQ: CG) is a leading global investment firm specializing in private capital deployment across three core 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 generate long-term value for its investors, portfolio companies, and the communities it serves. The firm operates with deep industry expertise and a commitment to responsible investing. With a workforce of over 2,300 professionals spread across 29 offices in four continents, Carlyle maintains a strong global presence, driving innovation and sustainable growth across diverse industries.
