Bengaluru-based Unimech Aerospace and Manufacturing Ltd, an advanced engineering solutions provider, along with its wholly owned subsidiary Innomech Aerospace Toolings Pvt Ltd, has agreed to acquire Hobel Bellows Co for a consideration of ₹450 crore with a week, subject to customary closing conditions.
Under the transaction structure, Unimech and Innomech will acquire 24% and 76% stake, respectively, in Hobel Bellows Pvt Ltd, which will subsequently acquire 99.99% partnership interest in Hobel Bellows Co.
Capability-led integration
Visakhapatnam-based Hobel Bellows is a specialised manufacturer of metallic bellows, expansion joints, flexible tubing components, sheet metal fabrications and precision-engineered assemblies, catering to industries such as automotive, locomotive, power transmission, water and gas.
The acquisition brings complementary capabilities including metal forming technologies, precision pipe bending and fabrication, and advanced welding.
It will also provide access to advanced manufacturing technologies such as hydroforming, thin-wall metal forming, high-temperature alloy processing, precision TIG welding, multi-layer metal forming, and fatigue and leak testing.
Strategic rationale
The move is aligned with Unimech’s strategy to move up the value chain from machined components to higher-value engineered assemblies and sub-systems.
The company expects synergies through increased wallet share with existing OEMs, expansion into new sectors, faster time-to-market and an improved financial profile.
Export-oriented business
For the year ended March 2026, Hobel Bellows reported provisional revenue of ₹124 crore, with exports accounting for about 90% of its business across markets such as the UK, US, Singapore and China.
Management commentary, outlook
Unimech Aerospace and Manufacturing, Chairman & Managing Director Anil Puthan, said: “This proposed acquisition is a significant milestone in Unimech’s growth journey. Hobel Bellows is not merely an addition of products; it is an important capability enhancement that expands our technological depth, manufacturing breadth and customer relevance.
“The business brings specialised capabilities in bellows, tubing, forming, welding and engineered assemblies, along with long-standing OEM relationships and a strong export-oriented operating base. These strengths align closely with our long-term vision of building a globally competitive, capability-led precision engineering platform. Importantly, this is a disciplined capital allocation decision that strengthens our ability to serve customers with more integrated, high-value solutions. The business also brings stronger profitability.”
Outlook
With this acquisition, the company aims to build a scalable, export-oriented and capability-led engineering platform catering to diversified industries and global OEM ecosystems, while continuing to pursue strategically aligned growth opportunities.