Unimech Aerospace and Manufacturing Limited (BSE: 544322 | NSE: UNIMECH) today signed definitive agreements to acquire Hobel Bellows, a specialised Indian manufacturer of metallic bellows, flexible tubing components and precision-engineered assemblies. The proposed acquisition marks an important step in Unimech’s journey to build a globally competitive, capability-led precision engineering platform and deepen its relevance across high-value industrial sectors.
The proposed acquisition reflects Unimech’s continued focus on capability-led growth, disciplined capital allocation, and strengthening customer relationships through a broader portfolio of high-value manufacturing solutions. It also aligns with the Company’s strategic intent to expand beyond precision components into higher-value engineered assemblies and sub-systems.
The transaction is subject to completion of standard closing conditions.
Business Overview of Hobel Bellows
Hobel Bellows is a specialised manufacturer of metallic bellows, expansion joints, flexible tubing components, sheet metal fabrications and precision-engineered assemblies. Its products serve a range of industries including automotive, locomotive, power transmission, water & gas, and other engineering applications. Hobel has built a strong export-oriented OEM business with long-standing customer relationships across global markets.
The company operates from an approximately 180,000 sq. ft. manufacturing facility located at Duvvada SEZ, Visakhapatnam, and is supported by in-house design, evaluation and testing capabilities. Hobel Bellows is certified under ISO 9001:2015 and IATF 16949:2016 quality systems, reflecting its process discipline and focus on serving demanding industrial applications.
Hobel Bellows has developed long-standing relationships with marquee OEM customers, with close to 90% of its business being export-oriented, serving geographies such as the UK, USA, Singapore and China. For the year ended March 31, 2026, on a provisional basis, the company reported revenues of ₹123.7 crore, along with a strong and margin-accretive profitability profile, consistent cash generation and healthy return ratios.
The business was built under the leadership of its founder, Mr. Vivek Chawla, with a strong focus on quality, innovation, technology and continuous capability enhancement. Hobel Bellows also benefits from an experienced professional management team, bringing deep operational and technical expertise across complex engineering environments.
Capability-Driven Acquisition
Hobel Bellows brings to Unimech a highly complementary manufacturing platform with specialised capabilities including:
● Metal forming technologies such as hydroforming, elastomer forming and segment forming
● Precision pipe bending and fabrication
● Advanced welding capabilities including TIG, seam and robotic welding
● Advanced quality, testing and validation capabilities including Carl Zeiss CMM-based dimensional inspection, helium leak detection, weld macroscopic examination, automated vision based inspection system, and automated underwater leak testing systems
These capabilities enhance Unimech’s ability to move beyond precision-machined parts and offer integrated engineered assemblies and sub-systems across diversified sectors. The acquisition also accelerates access to capabilities that would otherwise take significant time and effort to build and qualify organically.
Strong Strategic Fit with Unimech’s Business
The proposed acquisition is strongly aligned with Unimech’s long-term strategic direction and offers multiple areas of synergy with its existing operations and customer base:
● Increase wallet share with existing OEMs: enables a broader solutions offering across platforms and applications
● Expand sector presence: adds meaningful capability in locomotive, industrial and power-related applications, while also strengthening the platform for deeper engagement across its existing aerospace, defence, energy, semiconductor, and medical equipment opportunities
● Accelerate time-to-market: provides immediate access to established capabilities, customer qualifications and manufacturing know-how
● Enhance financial profile: brings a high-margin, margin-accretive and cash-generative business with strong return characteristics that complements Unimech’s capital allocation philosophy
Hobel’s export-oriented operating model and long-standing OEM relationships further strengthen Unimech’s positioning as a trusted global manufacturing partner.
Unlocking Growth Through Synergies
The combined strengths of Unimech and Hobel Bellows are expected to unlock multiple growth levers, including:
● Cross-sell opportunities: increasing share of business with existing customers across diversified industries
● Value chain enhancement: expanding from components into engineered assemblies and systems
● Capability integration: combining machining, forming, welding and validation capabilities into a more unified engineering platform
● Operational efficiencies: improving capacity utilisation, procurement leverage and process optimisation
This positions Unimech to become an even stronger partner for complex, high-performance engineering solutions in high-entry-barrier industries.
Management Commentary
Commenting on the signing of the definitive agreements, Anil Puthan, Chairman & Managing Director said:
“This proposed acquisition is a significant milestone in Unimech’s growth journey. Hobel Bellows is not merely an addition of products; it is an important capability enhancement that expands our technological depth, manufacturing breadth and customer relevance.
The business brings specialised capabilities in bellows, tubing, forming, welding and engineered assemblies, along with long-standing OEM relationships and a strong export-oriented operating base. These strengths align closely with our long-term vision of building a globally competitive, capability-led precision engineering platform.
Importantly, this is a disciplined capital allocation decision that strengthens our ability to serve customers with more integrated, high-value solutions. The business also brings a stronger profitability profile and healthy cash generation, further strengthening the quality of our overall platform and supporting long-term value creation for our stakeholders.”