Belrise Industries Limited, one of India’s leading
integrated automotive and aerospace component manufacturers with a diverse
portfolio of safety-critical systems and engineering solutions, has acquired
the Tipper Body Business of Hyva India Private Limited, a subsidiary of JOST
Werke SE.
The transaction marks a strategic step in strengthening
Belrise’s position as a Tier-0.5 supplier within the commercial vehicle
ecosystem.
The acquisition aligns with Belrise’s long-term strategy
to expand its capabilities in the commercial vehicle segment and deepen its
presence in high-growth sectors including construction, mining, defence and
infrastructure. The transaction is based on an EV/EBITDA multiple of
approximately 3.60x, with a total purchase consideration of approximately USD
5.65 million.
Hyva India’s Tipper Body Business is an established
platform specialising in the manufacture of tipping solutions for applications
across the construction, mining and infrastructure sectors. The business has
strong engineering and design capabilities and serves all of India’s top five
commercial vehicle OEMs.
The business delivered EBITDA of approximately USD 1.57
million in CY2025, with a return on average capital employed (ROACE) of around
20 per cent, reflecting its operational efficiency and profitability.
The acquisition will further expand Belrise’s customer
portfolio by adding a key European commercial vehicle OEM. It will also
strengthen the company’s domestic footprint through three manufacturing facilities
located in Pune, Jamshedpur and Bangalore.
Swastid Badve, General Manager, Belrise Industries
Limited, said, “We are pleased to welcome Hyva India’s Tipper Body Business
into the Belrise family. This acquisition is a strong strategic fit and complements
our manufacturing and engineering strengths. It enhances our position in the
commercial vehicle value chain and supports our vision of becoming a
diversified, global mobility solutions provider.”
He added, “Belrise remains committed to ensuring a seamless transition for
customers, employees, suppliers, and business partners, while investing in the
future growth and development of the business.”