CCI Approves Craftsman Automation’s Full Acquisition of Sunbeam Lightweighting Solutions

The Competition Commission of India (CCI) has approved Craftsman Automation Ltd's acquisition of 100% share capital of Sunbeam Lightweighting Solutions Pvt Ltd. Craftsman Automation, a public company in India, operates across multiple sectors, and Sunbeam specializes in automotive aluminium die-casting. The deal required CCI's nod due to regulatory thresholds.

The Competition Commission of India (CCI) has given the green light to Craftsman Automation's acquisition of Sunbeam Lightweighting Solutions. The deal involves Craftsman Automation acquiring full ownership of Sunbeam, which specializes in automotive aluminium die-casting for two-wheelers and passenger vehicles. The acquisition needed CCI's approval as it surpassed the regulatory threshold for such transactions.

Craftsman Automation, an Indian public company with diversified operations in powertrain, aluminium products, and industrial & engineering sectors, will now expand its foothold in the automotive aluminium die-casting industry. Sunbeam Lightweighting Solutions is a wholly-owned subsidiary of Mumbai-based private equity firm, Kedaara Capital.

This approval highlights CCI's role in monitoring market fairness and curbing anti-competitive practices. Transactions crossing certain financial thresholds must undergo scrutiny to ensure market integrity, exemplifying the oversight function of the CCI in maintaining a level playing field in business practices.

(With inputs from agencies.)