Tata Opportunities Fund makes investment in Varroc
With over Rs. 6,900 Crore (USD 1.15 billion) in revenue, Varroc is a leading Indian auto component manufacturer.
Varroc had acquired the global automotive lighting business of Visteon (formerly a division of Ford) in 2012.
Apart from 21 manufacturing plants in all major auto hubs across India, Varroc has a global manufacturing foot-print in low cost countries spanning Mexico, China and the Czech Republic.
The group has marquee clients including Jaguar Land Rover, Ford, Tesla, GM, Volkswagen, Bentley and Nissan in the global market and players such as Bajaj, Honda, Yamaha, Hero, Royal Enfield, Mahindra and Tata Motors in the domestic market. Varroc Group is led by Tarang Jain, a first generation entrepreneur, supported by strong professional management teams in India, North America, Europe and China.
Speaking on the occasion, Tarang Jain, founder and Managing Director of Varroc said, “We are delighted to embark on the next stage of our journey towards 2020 with a reputed partner. I am sure my team will be able to leverage the intellectual and infrastructural network provided by our partners in advancing the strategic agenda of the company and create value for all stake-holders. The Tata Opportunities Fund and its team of investment and operating professionals, not only bolster us financially, but also provide us a strategic spring-board which enables us leapfrog into the next cycle of our growth”.
Padmanabh Sinha, Managing Partner of the Fund’s advisory team in India said, “The Fund and its limited partners are delighted to support the Varroc Group, which is exemplary of Indian entrepreneurship on the global stage. The fund believes India has excellent engineering and management capabilities which can be leveraged to create global leaders in manufacturing. While retaining a Tata bias in its investment strategy, the Fund is actively pursuing investments into other such companies that have a history of operational excellence and robust governance led by dynamic management teams.”
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