Kochhar & Co acted as lead Indian counsel to Monarch Industries Limited on their investment in Yerik Hydraulics Private Limited to become a joint venture partner and 50% shareholder in Yerik.

The Firm provided end to end support and assistance in the transaction which entailed preparing, negotiating and finalizing the definitive transaction documents (such as the Subscription Agreement, and the Shareholder’s Agreement), undertaking a comprehensive due diligence on the company, and assistance with all closing and post-closing actions.

The transaction was led by the Kochhar Bangalore corporate M&A team comprising of Anuj Kaila (Partner) and Adityan Rangaswamy (Associate). Various other members of the Kochhar Bangalore office also assisted with the transaction and the due diligence.

Monarch Industries is a Canadian-founded, privately held manufacturer established in 1935, known for its vertically integrated operations in hydraulic cylinders and custom iron castings. Headquartered in Winnipeg, Manitoba, the company oversees manufacturing facilities in Canada (including a foundry in Winkler), a distribution center in North Kansas City, Missouri, and a hydraulic cylinder plant in Jiashan, China .

Yerik Hydraulics (also known as Yerik International) is a privately held Indian company based in Ludhiana, Punjab, founded in 1991 with a focus on agricultural machinery parts, hydraulic cylinders, and allied engineering goods.

The joint venture between Monarch and Yerik will help both companies expand their hydraulics cylinder manufacturing business, both in India and around the globe, and marks a key milestone in the Indian hydraulic cylinders manufacturing sector.

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