Indian auto component manufacturer The Hi-Tech Gears has paid US$58 million to acquire Teutech Industries, a component manufacturer based in Guelph, Ontario. Teutech has three manufacturing plants in Canada and the US, which produce both automotive and non-automotive products.
Based in Gurgaon, The Hi-Tech Gears partners with global original equipment manufacturers and customers to provide powertrain solutions for their global platforms. It offers high-precision transmission gears and shafts, driveline components, engine gears and power take-off components for two wheelers, passenger vehicles, commercial vehicles, off-highway and construction equipment and non-automotive applications. The company is listed on the National Stock Exchange of India and the Bombay Stock Exchange.
Juris Legal advised The Hi-Tech Gears on the acquisition with a team led by managing partner Rupin Pawha, assisted by associates Tuhin Sharma, Prashant Pranjal and Angad Dhaliwal.
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