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HONG KONG SAR - Media OutReach - 27 May 2022 - Southco, Inc. has completed the acquisition of Darshana Industries Pvt. Ltd, a proven leader in the design and manufacture of access hardware and mechanical components for the India market.
Founded in 1982 and headquartered in Pune, India, Darshana is the trusted supplier to a broad range of industries including transportation, off-highway, telecommunications, and industrial equipment. Darshana's team of 260 people design and manufacture over 6000 standard and custom products.
For over 75 years, Southco has been the global leader in the design, manufacture, and sale of access hardware. In 2008, Southco established its India regional headquarters and manufacturing facility in Pune and recently doubled the size of the facility to accommodate sales growth and to support the "Make in India" initiative of the Indian Government.
The acquisition of Darshana positions Southco as a leading access hardware manufacturer and supplier in this vital region, which is poised for strong business growth. Most importantly, the two businesses have common cultures of strong people-focused values and a desire for continuous improvement.
"We are excited to welcome Darshana to the Southco family and feel privileged to continue their heritage" stated Philip Kempson, Managing Director for Europe and India. "We are committed to successfully growing the Darshana brand."
Nilesh Patil, principal shareholder and Director of Darshana commented, "With the support of our team, Darshana has grown to become a leading player in its segment in India. We are excited at the opportunity for Darshana to enter the next phase of growth with the help of Southco's global footprint and expertise".
Lincoln International acted as exclusive financial advisors for Darshana Industries and its shareholders on this transaction.
Founded in 1982 and headquartered in Pune, India, Darshana is the trusted supplier to a broad range of industries including transportation, off-highway, telecommunications, and industrial equipment. Darshana's team of 260 people design and manufacture over 6000 standard and custom products.
For over 75 years, Southco has been the global leader in the design, manufacture, and sale of access hardware. In 2008, Southco established its India regional headquarters and manufacturing facility in Pune and recently doubled the size of the facility to accommodate sales growth and to support the "Make in India" initiative of the Indian Government.
The acquisition of Darshana positions Southco as a leading access hardware manufacturer and supplier in this vital region, which is poised for strong business growth. Most importantly, the two businesses have common cultures of strong people-focused values and a desire for continuous improvement.
"We are excited to welcome Darshana to the Southco family and feel privileged to continue their heritage" stated Philip Kempson, Managing Director for Europe and India. "We are committed to successfully growing the Darshana brand."
Nilesh Patil, principal shareholder and Director of Darshana commented, "With the support of our team, Darshana has grown to become a leading player in its segment in India. We are excited at the opportunity for Darshana to enter the next phase of growth with the help of Southco's global footprint and expertise".
Lincoln International acted as exclusive financial advisors for Darshana Industries and its shareholders on this transaction.
About Southco
Southco, Inc. is the leading global designer and manufacturer of engineered access solutions. From quality and performance to aesthetics and ergonomics, we understand that first impressions are lasting impressions in product design. For over 75 years, Southco has helped the world's most recognized brands create value for their customers with innovative access solutions designed to enhance the touch points of their products in transportation and industrial applications, medical equipment, data centers and more. With unrivalled engineering resources, innovative products and a dedicated global team, Southco delivers the broadest portfolio of premium access solutions available to equipment designers throughout the world.
Southco Asia Limited
2401-2406, Tower 2, Ever Gain Plaza
88 Container Port Road, Kwai Chung
Hong Kong
#Southco
The issuer is solely responsible for the content of this announcement.
