Actis Advisors buys stake in Endurance Tech

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Actis Advisors buys stake in Endurance Tech
Actis Advisors, a private equity (PE) firm, the firm that invests mainly in emerging markets, has acquired a minority stake of 10% for $71 million (Rs 371.6 crore) in Aurangabad-based auto component maker Endurance Technologies Ltd.

Endurance was established in 1985 as Anurag Engineering Co. Ltd. to manufacture Aluminum Die Casting products at Aurangabad, Maharashtra. The firm caters to some of the world's leading Automotive manufacturers and it has 19 plants across India, Italy and Germany.

The company manufactures alloy wheels, suspension, transmission and braking products for two and three wheelers, passenger and commercial vehicles.

The company collected a sales revenue of Rs 2,483 crore from domestic operations and Rs 727 crore from overseas operations for the year 2010-11.

Actis which targets emerging markets has been increasing its investments in Asia, Africa and Latin America. It currently has $4.6 billion funds under management.

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