TCR Acquisition & Valuation

Valeo SA is a company based in France. Valeo is an automotive parts supplier that operates through four business segments, including powertrain systems (PTS, 31% of 2022 revenue), thermal systems (THS, 22%), comfort and driving assistance systems (CDA, 22%), and visibility systems (VIS, 25%). As of 2022, Valeo generated 84% of its revenue through original equipment sales and 11% of its revenue through aftermarket parts. Geographically, company operates in France, North America, Asia, and Other European Countries.

OFILM Group Co Ltd is engaged in the design, research, development, production, and sale of optical and optoelectronic components. The company's products include touch display products, optical products, sensor products, smart car products, and others.

Changzhou Xingyu Automotive Lighting Systems Co., Ltd. makes automotive lighting and related electronics and is headquartered in the Changzhou National High-Tech Industrial Development Zone in Jiangsu. It was established in 1993, converted into a joint-stock company in October 2007 and listed on the Shanghai Stock Exchange in February 2011 under code 601799. Its products include intelligent headlights with adaptive driving beam technology, smart-cabin systems with holographic projection, AR and AI personalization, intelligent-driving products such as millimeter-wave radar, smart cameras and ADAS controllers, and lighting control modules. It has subsidiaries in Hong Kong, Foshan, Changchun, Shanghai and Chongqing and offices in Germany, Japan, Serbia, Mexico and the United States, and took part in SVOLT's Series B+ round.

Engineering company making powertrain and aluminium products for vehicles, industrial machinery parts and storage solutions. Headquartered in Coimbatore.

Sansera Engineering Ltd manufactures complex and critical precision-engineered components and caters across automotive and non-automotive sectors. The Company is in the business of manufacture and sale of automobile/aerospace components which represents a single business segment. The company is in the business of manufacturing auto components such as rocker arms, connecting rods, gear shifters, crankshafts, and aerospace components, radars, and mm-wave sensors. Geographically the company generates revenue from India, Europe, the USA, and Other foreign countries.

NSK Ltd is a Japan-based company that manufactures and sells automotive products, precision machinery, and mechatronic products. The company has two business segments, the Industrial Machinery business and the Automobile Business. The Industrial machinery bearing business is comprised of three sub-segments: the general machinery, electrical and IT equipment, and the Aftermarket segment. The Automobile business is engaged in the production and sales of bearings for car manufacturers and automotive component manufacturers, steering columns, and automatic transmission components. Its products include ball bearings, roller bearings, Plummer blocks, electric power steering, and super precision bearings. It generates the majority of its revenue from the Automobile segment.

Asahi India Glass makes automotive safety glass and float glass for buildings, and runs glass retail and installation outlets. Customers are carmakers, builders and consumers in India. It is a leading automotive glass maker in India. Headquartered in New Delhi.

Gabriel India makes shock absorbers, struts and front forks, plus other ride-control parts. It sells to passenger vehicle, commercial vehicle and two- and three-wheeler makers and in the aftermarket. It is part of the Anand Group. Headquartered in Pune.

Apollo Tyres Ltd manufactures and sells tires. The company's geographical segments are the Asia Pacific, the Middle East, Africa (APMEA), Europe, and Others. The firm's two key brands are Apollo and Vredestein. The product portfolio comprises tires for Passenger, Commercial, Off-highway vehicles, and Two-wheelers.

ZF Commercial Vehicle Control Systems India makes braking and control systems, air compressors and other parts for trucks, buses and trailers. Customers are commercial vehicle makers. Part of the ZF group. Headquartered in Chennai.

CIE Automotive SA is a supplier of components and subassemblies for the automotive market. Cie Automotive produces components for engines, gearboxes, transmissions, chassis, interior and exterior trims, and roof systems. The company's clients include Renault, Magna, Chrysler, Daimler, Schaeffler, Ford, Nexteer, Volkswagen, and Faurecia. Next to its core automotive business, Cie Automotive operates a process improvement service through a subsidiary. The majority of revenue and operating profits are generated in Cie Automotive's core segment automotive components. Geographically, Europe and NAFTA are the largest sources of operating profits for the company.

Holding and operating company of the TVS group's auto businesses. It holds TVS Motor and owns operating units in auto components, mobility distribution and tyres, with other group investments. Headquartered in Chennai.

Motherson Sumi Wiring India makes wiring harnesses for passenger cars, commercial vehicles, and two-wheelers, mainly for Indian car makers and joint ventures. It is part of the Motherson group. Headquartered in Noida.

Dhoot Transmission makes wiring harnesses, battery cables, and related electrical assemblies for vehicles. Customers are automotive OEMs, including makers of passenger cars, commercial vehicles and two-wheelers in India. Headquartered in Aurangabad (Chhatrapati Sambhajinagar), Maharashtra.

Machxin Technology is a semiconductor company based in Shanghai, China, founded in 2026. The company designs integrated circuit chips and the software platforms that run on them. Its products are built around custom dynamic dataflow architectures aimed at AI workloads and edge-computing applications. The company targets automotive-grade inference hardware, matching chip layout to algorithms to improve scaling efficiency for transportation and other commercial uses. Revenue is expected to come from chip sales and related technical services.

Mitsubishi Electric Mobility is a member of the Mitsubishi Electric Group that develops automotive technologies and components. Its newer business areas address electrification, advanced driver assistance systems (ADAS) and robot delivery services, tied to the CASE and MaaS trends in mobility. Its established lines supply powertrain components, vehicle control products and in-vehicle infotainment, including technology that improves the fuel efficiency of internal combustion engines and the safety and reliability of vehicles. The company sells to vehicle makers and other automotive customers, and it is owned by the Mitsubishi Electric Group.

Sunwoda Electric Vehicle Battery is a Chinese maker of power batteries for electric and hybrid vehicles and a subsidiary of Shenzhen-listed Sunwoda Electronic. It produces battery cells, modules, packs and battery management systems for battery electric, hybrid and plug-in hybrid vehicles, and supplies automakers such as Dongfeng, Geely, Volkswagen, Volvo Cars and Li Auto. Its power battery business reported revenue of RMB 2.93 billion in 2021 and RMB 12.7 billion in 2022, and it ranked among the top ten power battery makers in China by installed capacity. Outside investors include Shenzhen Capital Group, Meituan, Broad Vision Funds, Li Auto and Xpeng affiliates and several state-linked funds, which together diluted the parent below 40 percent in 2022. The company started a process in October 2023 to list separately on the Shanghai market.

JingXi ZhiXing supplies chassis systems, suspension components, and brake assemblies for commercial vehicles and heavy-duty trucks in the Chinese automotive market.