Bain Capital to enter into a strategic partnership and invest in RSB Transmissions

Partnership to drive significant growth and global expansion as the company propels into the next phase of growth

MUMBAI – September 17, 2024 – Bain Capital, a leading global private investment firm, today announced a strategic partnership with RSB Transmissions (“RSB”), a premier global manufacturer of automotive, construction, and off highway equipment systems and aggregates. Together with RSB’s founders and management team, Bain Capital will provide the resources and global automotive expertise to unlock significant organic growth, pursue strategic M&A opportunities, and further establish the company as a global, diversified platform.

Founded in 1973 by R.K. and S.K. Behera, RSB specializes in the design and manufacturing of components for commercial vehicles, passenger cars, construction and off highway equipment. The company has expanded to 15 state-of-the-art manufacturing facilities across India, including locations in Jamshedpur, Pune, Dharwad, Chennai, as well as an international site in Mexico. With cutting-edge facilities and the latest IT infrastructure, RSB is recognized for its top-tier manufacturing capabilities, strategic customer relationships, and commitment to quality, which enables it to serve as a supplier of choice to global and Indian Original Equipment Manufacturers (OEMs) like Tata Motors, Ashok Leyland, VECV, Daimler, Mahindra & Mahindra, and John Deere. In the construction equipment sector, RSB supplies major manufacturers such as CAT, Tata Hitachi, JCB, XCMM, LiuGong, Kobelco, and Komatsu. 

"RSB is on the brink of a significant milestone as we celebrate 50 years of successful operations. From humble beginnings with just fifteen employees in Jamshedpur, this momentous occasion prompts us to reflect on our journey and look toward the future. We’ve established a strong foundation and see significant opportunity to expand and diversify in this next stage of growth,” said R.K. Behera. "Over the past eighteen months, we’ve had the pleasure of establishing a deep relationship with the Bain Capital team and have aligned on a joint vision for the future of RSB. We believe they are the right partner, with deep integrity and strategic capabilities, to help RSB 2.0 succeed and leverage growth opportunities on a global scale,” added S.K. Behera.

"For over five decades, Shri R.K. Behera and S.K. Behera have built RSB into a truly differentiated, high-quality company at the forefront of the global automotive engineering industry. RSB’s strong culture, relentless focus on high-quality engineering, long-term customer relationships, impressive track record, and robust global footprint make it an extraordinary company," said Pawan Singh, Partner at Bain Capital. "We believe the auto components industry and the company are at an inflection point. We are collaborating closely with the Behera family and are committed to building a larger, more diversified platform,” added Rishi Mandawat, Partner at Bain Capital.

The transaction is subject to receipt of necessary approvals from all relevant authorities.

Bain Capital’s investment was made through its Private Equity team, which has significant scale and experience supporting the growth of founder-led and global industrial companies based in India. Since establishing its Mumbai office in 2008, Bain Capital has built one of India's largest private equity teams with notable investments including Hero MotoCorp, Porus Labs, J.M. Baxi, and Quest Global.

Axis Capital, KPMG, Kirkland and Ellis, Khaitan & Co, McKinsey, ERM, and Alvarez and Marsal served as advisors to Bain Capital.

 

About Bain Capital
Bain Capital, LP is one of the world’s leading private multi-asset alternative investment firms that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since our founding in 1984, we’ve applied our insight and experience to organically expand into numerous asset classes including private equity, credit, public equity, venture capital, real estate, life sciences, insurance, and other strategic areas of focus. The firm has offices on four continents, more than 1,750 employees and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com.

About RSB 
RSB Transmissions is a distinguished company under the ownership of the Behera family. As a rapidly expanding global engineering enterprise, RSB excels in a broad spectrum of business pursuits, extending from the design to manufacturing of aggregates and systems tailored for commercial vehicles, passenger cars, as well as construction and farm equipment. RSB was founded in 1973 as exclusive manufacturer for Tata Motors Limited in Jamshedpur. It is a Tier-1 auto comps player focused on Propeller Shafts, Axle & other automotive components.
RSB has long-standing relationships with key customers and strong manufacturing and design capabilities. We have 16 plants located across 8 states and an international plant in Mexico, to export components to Tier-1s in the US.