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Lumax Resource completes acquisition of 60% stake in Greenfuel Energy's Alternate Fuel Business

Nov 27, 2024•about 1 year ago

Acquiring Company

Lumax

Acquired Company

Greenfuel Energy Solutions

GurgaonGurgaonManufacturingAutomotiveEnergyManufacturing

Description

Lumax Resource, a subsidiary of Lumax Auto Technologies Limited, has successfully acquired a 60% stake in Greenfuel Energy Solutions' alternate fuel business, with a strategic focus on capitalizing on the growth expected in the CNG, hydrogen, and other alternate fuel applications. The acquisition represents a significant move for Lumax Resource, positioning it to expand its presence in the green and alternate fuels segment.

Company Information

Company

Lumax

Location

Gurgaon, Haryana, India

About

Lumax Auto Technologies Limited, part of Lumax Group, established its first plant in Maharashtra in 1981, initially manufacturing Lighting products for two-wheelers. Since then, the company has expanded organically, now producing a diversified range of products for two, three, and four-wheeler segments in collaboration with its subsidiaries and associates. As one of the few integrated auto component manufacturers in India, Lumax is renowned for its robust R&D capabilities, technological prowess, design skills, and manufacturing abilities.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed