Accelerator Group Advises Spark Minda, Ashok Minda Group, India in Its Joint Venture with Vast Access Systems Technology LLC, USA
May 7, 2015 | By Business Wire News
Accelerator Group LLC (“Accelerator”) is pleased to announce thatits client, Spark Minda, Ashok Minda Group”(“Minda”) has entered has entered into a Joint Venture partnership with Vehicle Access Systems Technology LLC. (“VAST”) USA.
This joint venture entity is Minda VAST Access Systems Private Limited (“Minda VAST”) with operations in Pune and Delhi-NCR, India.
Accelerator was the exclusive advisor to Spark Minda, Ashok Minda Group for this transaction.
Mr. Ashok Minda, Group CEO, Spark Minda, Ashok Minda Group commented: “We are delighted to have partnered with VAST. VAST’s global presence will help us to reach out to more areas and expand our base & offer new technology with latest products to our Customers.”
Mr. Sanjay Thapar, Group Chief Strategy Officer, Spark Minda, Ashok Minda Group remarked: “Accelerator proved to be an invaluable adviser for this deal and contributed significantly in terms of the deal construct and consummation of the deal through creative solutions leading to a win – win for both Minda and VAST. They leveraged industry access, deep domain knowledge and experience to conduct a well-tailored and confidential process.”
Frank Krejci, President & CEO of STRATTEC observed: “This is a very important step forward in the strategic strengthening of VAST. India is projected to be one of the fastest growing economies globally. We appreciate the work that Accelerator did in facilitating this opportunity. Their demonstrated understanding of the cross-border deal making, businesses, processes, and market was critical in allowing for a seamless transaction.”
Spark Minda, Ashok Minda Group is one of the leading manufacturers of automotive components with cumulative revenue of $500 million Group, with 11,200 employees.
VAST, USAis an alliance WITTE Automotive, Velbert Germany, STRATTEC Security Corporation, Milwaukee WI and ADAC Automotive, Grand Rapids, MI with cumulative revenue of $1.2 billion and with over 8,000 employees.
Accelerator Group LLC www.agroupllc.com , an investment banking and merchant-banking firm with offices in Troy, Michigan, Miami, FL and Gurgaon, India, specializes in cross border strategic alliances in addition to the domestic alliances in United States and India. Its partners have significant domain knowledge and expertise in manufacturing (automotive, industrial, aerospace), healthcare and food & agri sectors.
Seema Chaturvedi, Managing Director, 248-723-0808