Bain Capital Makes Strategic Growth Investment in Dhoot Transmission Group, Acquiring Significant Minority Stake

Partnership empowers Dhoot Transmission Group to drive continued innovation, expand global reach, and capitalize on high-growth segments

Dhoot Transmission Group (“Dhoot”), a leading manufacturer of automotive components, today announced a strategic growth investment from Bain Capital, a global private investment firm. Through an aligned partnership with Founder and CEO, Rahul Dhoot, Bain Capital will leverage its global automotive expertise and deep value-creation capabilities to support the company’s continued growth. Together, they aim to accelerate Dhoot Transmission Group’s leadership in high-demand segments, foster continued innovation, and support global expansion through strategic acquisitions and partnerships.

Founded in 1999, Dhoot Transmission Group is a global leader in Two-Wheeler and Three-Wheeler Wiring Harness. The company’s advanced Wiring Harnesses also power Heavy and Light Commercial Vehicles, Off-road Vehicles, and Farm Equipment in ICE and EV segments across the globe. Over the past 25 years, Dhoot Transmission Group has also diversified in Electronics Sensors & Controllers, Automotive Switches, Connection Systems, and an array of EV products, including Charging Guns, Inlets, Off-Board Chargers, RCDs, High Voltage & Low Voltage Wiring Harness, and assembly of Li-Ion Batteries. This growth has been fueled by a strong focus on innovation, a customer-centric approach, strategic acquisitions, and technology partnerships. Dhoot Transmission Group has also expanded internationally, employing over 10,000+ people across 20+ state-of-the-art manufacturing facilities in India, the UK, Slovakia, and Thailand.

“Our journey over the past two decades has been defined by a commitment to innovation, quality, and trust,” said Rahul Dhoot, Founder and CEO of Dhoot Transmission Group. Partnering with Bain Capital is an exciting opportunity to accelerate this evolution. Their strategic expertise and integrity make them the perfect partner to help us scale globally and pursue emerging opportunities that deliver value to our customers worldwide.”

“Over the past two decades, Rahul has built Dhoot Transmission Group into a market leader, serving as a critical partner to OEMs powering India’s Two-wheeler market—the largest in the world with a strong growth trajectory. Dhoot's entrepreneurial culture, customer focus, and investments in cutting-edge technology have also now positioned the company at the forefront of several high-growth segments. We are excited to partner with Rahul and the Dhoot Transmission team to build on their impressive growth journey and help drive expansion through M&A and technology partnerships,” said Rishi Mandawat, Partner at Bain Capital. “Their customer-first approach and strong employee engagement has helped the group to build a leading auto-component business and together, we see significant opportunities to expand both organically and inorganically, accelerate exports, and enhance their global footprint,” added Saahil Bhatia, Managing Director at Bain Capital.

Bain Capital’s investment was made through its Private Equity team, which has deep experience supporting the growth of founder-led companies and global industrial platforms. Since establishing its Mumbai office in 2008, Bain Capital has built one of the largest private equity teams in India, with notable investments including Hero MotoCorp, RSB Transmissions, Porus Labs, 360one Wealth, CitiusTech, J.M. Baxi, and Quest Global.

Terms of the private transaction, which is subject to regulatory approval, were not disclosed.

Alvarez and Marsal, AZB & Partners, ERM, ICICI Securities, Kearney, Kirkland and Ellis, KPMG and PwC served as advisors to Bain Capital.

Singhi Advisors, Trilegal and Deloitte served as advisors to Dhoot Transmission Group.