Neeraj Bhargava, Senior Managing Director & CEO, Zodius, said: "Prashant and the Allygrow team are off and running with two high quality acquisitions and their sales momentum is fantastic.  We are highly excited investors and we look forward to rapid growth and the Allygrow team building a truly world class global company."

AE Automotive Elements, with its core expertise in the auto domain, specializes in interior & exterior systems and vehicle body-in-white (BIW) development. Through the acquisition, it will help Allygrow establish its presence in the European market along with strengthening its delivery offerings to Indian and international customers. AE Automotive Element's marquee clients include original equipment manufacturers (OEMs) and Tier 1s such as BMW Group, Daimler, Magna, Yanfeng Visteon amongst others.

Manfred Weissensteiner, CEO, AE Automotive Elements, would continue to hold leadership position after the acquisition, and will serve as the Chief Operating Officer of Allygrow. He said, "Allygrow, which has a global presence and diversified service capabilities, opens a wide range of new opportunities to support our customers globally. We are excited to be a part of this journey."

The acquisition of Ranal will build Allygrow's competency in manufacturing engineering space. Through its delivery centres in US (Detroit) and India (Bangalore & Pune), it will benefit Allygrow with multi-location delivery setup, access to local talent, and ready customer-base in Americas, Europe and Asia. Ranal brings expertise of working with OEMs and Tier 1s such as General Motors, Caterpillar, KUKA, Valiant, among others.

Rakesh Mahajan, CEO, Ranal said: "Allygrow's strengths in product development will complement Ranal's expertise in manufacturing engineering, which definitely is a growing segment. I am sure our team members will have great prospects ahead."

Equirus Capital advised Allygrow on both the deals.
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