“The acquisition creates new opportunities for both partners in terms of technology and sales.” Roberto Henkel, Senior Vice President Operations Digitalization & IT, Schaeffler
“With the acquisition of Dhruva, Schaeffler is expanding its portfolio to include a profitable specialist in intelligent industrial automation and gaining access to the Indian market and other customers across Asia.” Andreas Schick, Chief Operating Officer at Schaeffler AG
“I look forward to embarking on this new chapter alongside my team of over 60 colleagues, as we aim to accelerate our growth and achieve greater profitability by embracing the new opportunities that lie ahead.” Jaydeep Chougule, CEO and Founder, Dhruva
Industriewerk Schaeffler INA-Ingenieurdienst GmbH, a subsidiary of Schaeffler AG, has signed a share purchase agreement to acquire 100 percent of the shares in Dhruva Automation & Controls (P) Ltd. (hereinafter referred to as “Dhruva”). Dhruva, based in Pune, India, is an engineering and service provider specializing in smart industrial automation and software solutions in the Asia/Pacific region.
Founded in 2002 by Jaydeep Chougule, the company employs 65 people and has demonstrated sustainable profitability. Dhruva is a successful provider of hardware, service, and software solutions for industrial manufacturing, catering to sectors that include automotive, mechanical and plant engineering, chemical process technology, biopharmaceuticals, food production, and water and wastewater treatment. With numerous customers in Asia/Pacific region, Dhruva has established itself as a trusted provider of industrial automation products and services, with a strong presence in India, Thailand, Dubai, Bangladesh, Azerbaijan, and Vietnam.
Besides its headquarters in Pune, Dhruva maintains sales offices in the Indian cities of Aurangabad and Kolhapur. “Dhruva ideally complements the activities of Schaeffler Digital Solutions. This collaboration also unlocks new technological potential, with Schaeffler plants in India already leveraging the combined expertise and joint software solutions. The acquisition creates new opportunities for both partners in terms of technology and sales,” stated Roberto Henkel, Senior Vice President Operations Digitalization & IT, Schaeffler. Schaeffler Digital Solutions GmbH (hereinafter referred to as SDS), based in Chemnitz, develops and integrates web-based software that is highly compatible with existing systems, sensors, and controls, allowing data retrieval and management across a wealth of machinery and enabling customers to avoid unplanned machine downtimes, improve productivity, and ensure a high level of quality. The joint focus of SDS and Dhruva activities is on progressing the “factory of the future”, with systems for machine data analysis, predictive maintenance, sustainability management, and numerous other innovative software solutions.
Industriewerk Schaeffler INA-Ingenieurdienst GmbH, a subsidiary of Schaeffler AG, will acquire 100 percent of the shares in Dhruva through the share purchase agreement. The transaction is expected to be completed by the end of the fourth quarter of the fiscal year 2024, subject to certain closing conditions. Dhruva brand is scheduled for integration into Schaeffler operations in the medium term.
“With the acquisition of Dhruva, Schaeffler is expanding its portfolio to include a profitable specialist in intelligent industrial automation and gaining access to the Indian market and other customers across Asia. This step underscores Schaeffler’s commitment to digitalization in operations and strengthens our innovative capacity in automation, enabling us to respond to the challenges of digital disruption,” said Andreas Schick, Chief Operating Officer at Schaeffler AG.
Jaydeep Chougule, CEO and founder of Dhruva, added, “After 22 years of independence, we are delighted to have found a strong partner in Schaeffler. Together, we will expand our portfolio to benefit our customers and realize further growth potential in the Indian market and the wider Asia/Pacific region. I look forward to embarking on this new chapter alongside my team of over 60 colleagues, as we aim to accelerate our growth and achieve greater profitability by embracing the new opportunities that lie ahead.”
