Aurionpro Solutions to acquire 51% stake in Toshi Automatic Systems
Aurionpro Solutions Ltd has agreed to acquire a stake of 51% in Toshi Automatic Systems Pvt. Ltd. (TASPL), a manufacturer of transit business automated products, for INR 139.9 million.
Based in Ghaziabad, Uttar Pradesh, Toshi Automatic Systems is engaged in creating innovative products and solutions in industrial, public safety, mass transit segments.
Toshi Automatic Systems manufactures and supplies automatic gates used in BRTS, Airport transit and Metro projects. The company has a manufacturing facility in Ghaziabad.
Sanjeev Sachdev — Managing Director of Toshi Automatic Systems said: “We have been in the Automation domain for the last 3 decades and took a leap into the Smart Transit space over 10 years ago with our first BRTS project in Ahmedabad, followed by some more prominent projects like in Amritsar. Today, our dream came true to have the platform for manufacturing AFC, TVM and PSD.
“The alliance with Aurionpro marks a true turning point for TASPL. With Aurionpro’s strong domain expertise & global experience, I am now confident that Aurionpro Toshi Automatic Systems Pvt Ltd will set the stage for strong growth going ahead.”
Aurionpro Solutions will buy the stake in tranches up to June 2022. This will be carried out via a combination of subscription and acquisition through subscription of a portion of fresh equity to be issued by Toshi Automatic Systems and partly by buying the equity stake from existing shareholders.
Subsequently, Toshi Automatic Systems will be renamed as Aurionpro Toshi Automatic Systems Pvt. Ltd. (ATASPL) post-acquisition.
Paresh Zaveri — Chairman and MD of Aurionpro Solutions said: “The acquisition of TASPL will allow Aurionpro to further consolidate its position as the only integrated player in Automatic Fare Collection (“AFC”) & transit solutions space in India.
“With major thrust on ‘Make in India’, we see enormous benefit for the combined strength of Aurionpro & TASPL. Additionally, we will have centralized manufacturing capabilities for both KIOSKs & transit Products like Automated Flap Gates, Ticket Vending Machines, Public Safety Doors for metro and high speed train stations and Turnstile and Flap Gates for Bus and Neo Metro stations.
“Further, this acquisition will also provide Aurionpro with substantial cost advantage, reduced supply chain risks & high scalability in the business and will also help in enhancing data Centre business, especially with fire safety gates and junction box that TASPL manufactures.”
Recently, Aurionpro Solutions won an order from the Uttar Pradesh State Road Transport Corporation (UPSRTC) for implementing an IoT-based integrated bus ticketing system.