The Competition Commission of India has approved the proposed acquisition of shareholding in Dhoot Transmission Private Limited by BC Asia Investments XV Limited and BC Asia Investments XVI Limited.

The proposed combination envisages acquisition of shareholding in Dhoot Transmission Private Limited (DTPL) by BC Asia Investments XV Limited and BC Asia Investments XVI Limited. Certain inter-connected transaction is also envisaged.

BC Asia Investments XV Limited and BC Asia Investments XVI Limited are indirectly owned and controlled by funds managed and/or advised by Bain Capital Partners LLC (Bain Capital). Bain Capital is a private equity investment firm that invests, through its family of funds.

DTPL is engaged in the manufacturing and sale of auto-components in the electrical and electronics category (E & E Category) such as, wiring harnesses, automotive switches, electronic sensors and controllers (Flashers 24V), connectors, terminals, automotive cables, power cords, etc., to Original Equipment Manufacturers. DTPL also supplies wiring harnesses to the medical devices industry and the consumer durables industry.

Detailed order of the Commission will follow.

Competition clearance for acquisition of auto components manufacturer by private equity funds enables shareholding transfer and related transactions. The Competition Commission of India approved the acquisition of shareholding in Dhoot Transmission Private Limited by BC Asia Investments XV Limited and BC Asia Investments XVI Limited, funds indirectly owned and controlled by Bain Capital, with certain interconnected transactions envisaged. DTPL manufactures and sells electrical and electronics auto components-including wiring harnesses, switches, sensors, connectors, terminals and cables-to Original Equipment Manufacturers and supplies wiring harnesses to medical devices and consumer durables sectors. A detailed Commission order will follow.