4 Mar 2025
It is among the biggest foreign investments made in the Indian auto parts industry.
Nashik-based Right Tight Fasteners (RTF) will acquire Aurangabad-based BG Fastening and Engineering, Fontana Gruppo’s existing operations in India. Then, Fontana Gruppo will invest ₹1,000 crore to buy 60% stake in RTF.
RTF is India’s second largest automotive fastener maker. It operates four facilities in Maharashtra, Uttarakhand, and Tamil Nadu and supplies parts like nuts, bolts, and screws to M&M, Ashok Leyland, Tata Motors, Royal Enfield, Ola Electric, and Bajaj Auto. RTF’s leadership will spearhead the new entity, which will become one of the largest fastener makers in India.
In February, the Carlyle Group, a private equity firm, acquired a 70% stake for $400 million in the entity combined after the merger of Roop Automotives and Highway Industries. In 2024, Bain Capital invested in RSB Transmissions. In 2022, Warburg Pincus acquired a controlling stake in Imperial Auto Industries, and Cummins bought a 26% stake in Automotive Axles for $76 million.
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