Alliance Shows Strength in Europe, North America
It is now three years since Warburg Pincus and its partner, former Balkrishna Industries executive director Yogesh Mahansaria, announced an intention to acquire Alliance Tire. In the time since the Mahansaria family and their global private equity backer took possession of Alliance for approximately US$150 million, plans to develop the business have progressed steadily. Not only has the goal of taking advantage of India’s cheaper production costs been realised – the company’s $100 million cross-ply agricultural tyre factory in Tirunelveli has been readied for the start of commercial production – during 2009 acquisitions and further inroads into new markets boosted the Alliance brand’s profile considerably.