Fontana Gruppo has completed the acquisition of a majority ownership stake in Right Tight Fasteners Pvt. Ltd., an Indian company specializing in high-strength special bolts, including special nuts and bolts. The acquisition brings five manufacturing plants under Fontana Gruppo’s operations, serving clients in the automotive, agricultural, industrial, and construction sectors.
According to Fontana Gruppo CEO Giuseppe Fontana, the acquisition aligns with the company’s strategy of establishing local facilities in key markets. He noted that India represents a market of interest due to its scale and economic potential.
Balbir Singh Chhabra, managing director of Right Tight Fasteners, stated that the partnership with Fontana Gruppo would allow the company to enhance its offerings by utilizing Fontana’s technology and infrastructure.
RTF operates four manufacturing facilities located in Maharashtra, Tamil Nadu, and Uttarakhand, serving sectors such as automotive, agricultural, industrial, and construction. The company’s clients include Tata Motors, Mahindra & Mahindra, Ashok Leyland, Bajaj Auto, Royal Enfield, and Ola Electric.
In the fiscal year 2023-24, RTF reported net sales of ₹720 crore (approximately $82.4 million), up from ₹600 crore (about $68.7 million) in the previous year. The company’s EBITDA increased to ₹105 crore (around $12 million) from ₹81 crore (approximately $9.3 million) during the same period.
Fontana Gruppo operates in 32 locations across Europe, the Americas, and India, with 21 production plants and over 5,000 employees. The company generates annual revenues of €1 billion (approximately $1.1 billion).
This acquisition is part of Fontana Gruppo’s strategy to expand its presence in key markets and enhance its global operations.