Pune-headquartered Belrise Industries Ltd has acquired the Tipper Body Business of Hyva India Pvt Ltd, a subsidiary of JOST Werke SE, for $5.65 million.
The transaction, valued at an enterprise value-to-EBITDA multiple of about 3.6 times, strengthens Belrise’s position as a Tier-0.5 supplier in the commercial vehicle ecosystem.
Strengthens commercial vehicle presence
The acquisition aligns with Belrise’s long-term strategy of expanding its capabilities in the commercial vehicle segment and increasing its presence in high-growth sectors such as construction, mining, defence and infrastructure.
Hyva India’s Tipper Body Business manufactures tipping solutions for construction, mining and infrastructure applications. It has strong engineering and design capabilities and supplies all of the top five commercial vehicle OEMs in India.
Adds manufacturing footprint
The business reported an EBITDA of about $1.57 million in CY25 and generated a return on average capital employed of around 20%, reflecting strong operational efficiency.
The acquisition also expands Belrise’s customer base by adding a leading European commercial vehicle OEM and strengthens its domestic manufacturing footprint through facilities in Pune, Jamshedpur and Bengaluru.
Supports long-term growth
“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,” said General Manager Swastid Badve.
“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,” he added.
Belrise reported a turnover of ₹9,509 crore and holds a 24% market share in precision sheet metal pressing and fabrication by revenue. The company operates 22 manufacturing facilities in India and two in Europe, serving 38 OEMs across automotive, aerospace and defence segments.