Acquisition Overview
On August 5, 2026, Belrise Industries Limited, a leading integrated automotive and aerospace component manufacturer headquartered in Pune, announced the acquisition of the Tipper Body Business of Hyva India Private Limited, a subsidiary of JOST Werke SE. The transaction is valued at approximately USD 5.65 million and is priced at an enterprise‑value to EBITDA multiple of roughly 3.60x.
Financial Metrics of the Target
Hyva India’s Tipper Body Business generated an EBITDA of about USD 1.57 million for calendar year 2025 and delivered a return on average capital employed (ROACE) of around 20%, indicating strong operational efficiency and profitability.
Strategic Rationale and Scope
The acquisition is positioned as a strategic step to strengthen Belrise’s transition to a Tier‑0.5 supplier within the commercial‑vehicle ecosystem and to deepen its presence in high‑growth sectors such as construction, mining, defence and infrastructure. The target business specializes in complete tipper bodies, serving all of the top five commercial‑vehicle OEMs in India and possessing robust engineering and design capabilities.
Operational Footprint Expansion
Post‑acquisition, Belrise will incorporate three Indian manufacturing facilities located in Pune, Jamshedpur and Bangalore, thereby expanding its domestic footprint. Additionally, the deal adds a key European commercial‑vehicle OEM to Belrise’s customer portfolio, enhancing its global reach.
Statements from Management
Mr. Swastid Badve, General Manager of Belrise Industries Limited, said the acquisition is a strong strategic fit that complements the company’s manufacturing and engineering strengths, enhances its position in the commercial‑vehicle value chain, and supports its vision of becoming a diversified, global mobility solutions provider. He emphasized Belrise’s commitment to a seamless transition for customers, employees, suppliers and business partners while investing in future growth.
Company Background – Belrise Industries Limited
Belrise operates as an integrated precision‑engineering firm with a turnover of INR 95,091 million and holds an estimated 24% market share in precision sheet‑metal pressing and fabrication based on revenue. The group runs 22 manufacturing facilities in India and two in Europe, serving 38 OEMs across two‑wheelers, three‑wheelers, four‑wheelers, commercial vehicles, agricultural vehicles, aerospace and defence sectors.
Company Background – Hyva India Tipper Body Business
Established in 1997, Hyva India introduced telescopic cylinder technology and tipping solutions to the Indian market and has become a respected player in the heavy‑duty commercial‑vehicle segment. The Tipper Body Business is the only Hyva unit globally dedicated to the design, manufacture and sale of complete tipper bodies. Following the transaction, Hyva will retain ownership of its Tipping Kits and Hydraulic Systems business and will continue to serve OEMs, body builders, dealers and customers in India with its hydraulic and tipping technology portfolio.
Forward‑Looking Statements
The release contains forward‑looking statements regarding the anticipated benefits of the acquisition, integration plans and future growth prospects. These statements are subject to risks and uncertainties, and actual results may differ materially from those anticipated.