The deal will help Endurance strengthen the technological prowess in the braking systems space.
Auto components maker Endurance Technologies acquired Italian auto-parts manufacturer Grimeca Srl for Euro 2.25 million. The acquisition was made through Endurance Adler SpA, a step-down subsidiary owned by Endurance Overseas Srl.
The deal will help Endurance strengthen the technological prowess in the braking systems space. The acquisition is also expected to provide impetus to the growth opportunities for the company's braking business in India, both for domestic and export market.
The company said it paid Euro 0.9 million for the stake in Grimeca, with the remaining Euro 1.35 million for acquiring the Italian firm's technical expertise and intellectual property rights of its braking systems, chassis components and its G Grimeca brand.
Grimeca is an advanced design service company that develops braking products for motorcycles and light vehicles. It also operates a co-design model with OEM partners.