Bain Capital-backed Dhoot Transmission Limited has acquired Bengaluru-based MULTILINK in a strategic move to strengthen its electronics capabilities and expand its footprint in the fast-growing two-wheeler (2W) and three-wheeler (3W) segments. The transaction, executed through an affiliate, marks another bolt-on acquisition as the company sharpens its focus on high-growth areas within the automotive components ecosystem.

MULTILINK, founded in 1983, supplies a range of electronic and electrical components—including chargers, sensors, relays and switches—to multiple original equipment manufacturers (OEMs). The company operates three manufacturing facilities located in Hosur, Mysore and Manesar, adding to Dhoot’s existing global network of over 20 plants.

Strategic push into high-growth EV ecosystem

The acquisition aligns with Dhoot’s broader strategy to capitalise on structural shifts in the automotive sector, particularly the increasing electrification of vehicles, higher electronic content per vehicle, and premiumisation trends. With EV adoption accelerating across 2W and 3W categories in India, demand for advanced electrical and electronic systems is expected to rise significantly.

By integrating MULTILINK’s product portfolio and customer base, Dhoot aims to enhance its position as an integrated solutions provider. The combined platform is expected to deliver cross-selling opportunities and deepen relationships with OEMs across segments.

Synergies to drive scale and efficiency

According to the company, the deal is expected to unlock synergies across procurement, manufacturing and supply chain operations. Enhanced scale could lead to improved cost efficiencies and faster go-to-market capabilities, particularly in a competitive and evolving supplier landscape.

Rahul Dhoot, Managing Director of Dhoot Transmission, said the acquisition strengthens the company’s positioning in segments witnessing structural growth driven by electrification. He highlighted the complementary nature of MULTILINK’s offerings and its established OEM relationships.

Saahil Bhatia, Partner at Bain Capital, noted that the transaction is part of a broader strategy to build a “future-ready” automotive components platform, with a focus on electronics and high-growth mobility segments.

Continued inorganic expansion strategy

Earlier this year, Dhoot had also announced a merger involving one of its subsidiaries and FourFront, a Tier-1 supplier of customised electro-mechanical solutions. The latest acquisition underscores the company’s continued focus on inorganic growth to scale its electronics platform.

Advisors to the transaction included PwC and Trilegal for Dhoot, while MULTILINK was advised by Spice Route Legal and Aeka Advisors.