Bain Capital-Backed Dhoot Transmission Merges Subsidiary with FourFront to Scale Automotive Electronics

Dhoot Transmission Limited (“Company”), one of India’s leading electrical and electronic companies, today announced a partnership, pursuant to which FourFront Limited (“FourFront”), a Tier-1 supplier of customized electro-mechanical and electronic solutions to Original Equipment Manufacturers (“OEMs”), headquartered in Pune, will merge with one of the Company’s subsidiaries.

FourFront will become part of Dhoot Transmission’s automotive electronics and electrical platform, enabling the Company and its team to continue serving its existing customer base while moving towards the next phase of growth. The combined platform brings together complementary product capabilities, manufacturing depth, and long-standing OEM relationships to support the increasing electronics content and electrification requirements of the automotive industry.

FourFront is a trusted supplier to leading Passenger Vehicle (“PV”) and Commercial Vehicle (“CV”) OEMs in India, with a strong portfolio spanning electromechanical switches, power electronics products and electric vehicle (“EV”) products. With the rapid evolution of vehicle architectures and rising adoption of electric vehicles, FourFront is well poised to benefit from EV tailwinds, supported by its capabilities in power electronics, engineering depth, and focus on quality and reliability.

The merger represents an important step in the Company’s journey to build a scaled, integrated automotive electronics and electrical platform, offering end-to-end solutions to OEM customers across conventional and electric vehicle programs.

Bain Capital will continue to support Dhoot Transmissions and FourFront through its global automotive experience and value-creation capabilities, as it scales its automotive electronics and electrical platform and pursues its next phase of growth. This support is expected to further strengthen the combined platform’s ability to deepen OEM partnerships, expand product offerings, and drive operational excellence in line with evolving customer requirements.

Commenting on the transaction, Rahul Dhoot, Managing Director, Dhoot Transmission Group, said, “This partnership is closely aligned with our strategy of building a differentiated automotive platform with strong capabilities in electronics and electrical systems. FourFront has developed trusted relationships with OEM customers and built meaningful expertise in power electronics. As part of the Dhoot platform, FourFront and its team will be well positioned to continue delivering the same level of quality and service levels to customers while benefiting from our scale, manufacturing depth, and long-term investment approach.”

Saahil Bhatia, Partner at Bain Capital, said, “India continues to be an economy with a strong long-term growth trajectory, supported by favourable demographics, rising domestic consumption, and sustained investment in manufacturing and infrastructure. Against this backdrop, we see a compelling opportunity to support platforms like Dhoot, and now FourFront, as they scale capabilities, deepen OEM partnerships, and build high-quality automotive solutions aligned with evolving technologies such as ADAS and increasing electronics content across vehicle segments.”

“Over the last 15+ years, FourFront has built very a strong foundation and is recognized for innovative solutions, superior design capabilities, and responsiveness towards customer demands,” said Shrikant Neurgaonkar, Chairperson and Managing Director at FourFront. “The partnership with Dhoot Transmission and Bain Capital will put us in a strong position to further enhance our product offerings and continue to invest in manufacturing facilities, R&D and people for the next phase of growth. We’re very excited to partner with Dhoot Transmission to create an electronics platform focused on technical and operational excellence.”

The partnership is expected to support growth by enabling broader product offerings, deeper customer engagement, and operational efficiencies through a shared manufacturing and supply-chain ecosystem. It also strengthens the Company’s presence across PV and CV segments, aligned with long-term industry trends, including electrification and increasing electronics penetration.

KPMG and PwC served as financial advisors, and Trilegal served as legal advisors to Dhoot Transmission. KPMG Corporate Finance and Desai & Diwanji served as advisors to FourFront

Dhoot Transmission is one of India’s leading electrical and electronics companies. They are engaged in design, engineering, manufacturing and supply of critical wiring harnesses, electronic sensors and controllers, switches, other electronic products, delivering robust, application-specific architectures across platforms. The company has a significant presence in the automotive industry, supplying to major OEMs, and has recently expanded into the EV sector. The company has 20+ manufacturing facilities globally.

Incorporated in 2007, FourFront Limited is a Tier 1 supplier of customized electro-mechanical and electronic solutions to leading OEMs in the automotive industry, with a strategic focus on the EV segment. They are engaged in the designing and manufacturing of electromechanical and power electronics products, primarily serving the automotive industry.