NEI Limited, based in Jaipur, India, has acquired the Slovakia based bearings manufacturer, Kinex Bearings. The share purchase was completed through NEI’s overseas investment company based in Zurich, Switzerland. This acquisition provides NEI with an exceptional platform to grow in the European bearings market, most notably within the railways segment. NEI intends to further strengthen Kinex’s presence in the railway segment, while bringing to market products from its own Indian operations.
NEI is a leading tier-1 supplier of automotive and industrial bearings and part of CK Birla Group, a $5 billion Indian industrial conglomerate, with a rich history of mergers, acquisitions and alliances with several renowned global companies. The group employs over 20,000 people across 24 manufacturing units around the world.
Based in Bytca, Slovakia, Kinex Bearings specializes in manufacturing rolling bearings for a number of end use applications. It is a leading supplier of textile bearings and European leader in the supply of cylindrical roller bearings for railway vehicles. The company operates 2 manufacturing units, located in Bytca and Kysucké Nové Mesto, in Slovakia.
IMAP partners in India and the Czech Republic jointly initiated the transaction on behalf of NEI Limited. IMAP teams from both offices worked in close collaboration to ensure seamless execution support for the client through all the transaction phases, including submission of a non-binding offer, due diligence and a binding offer and subsequent signing of the definitive documents. International IMAP collaboration and local support in both countries during this cross-border transaction were crucial in delivering value to the client.