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Endurance Technologies

#3326

Rank

$3.38B

Marketcap

IN India

Country

Endurance Technologies
Leadership team

Mr. Satrajit Ray (Group CFO & Exec. Director)

Mr. Anurang Jain (MD, Promoter & Director)

Mr. Ramesh Gehaney Sr. (COO & Exec. Director)

Products/ Services
Automotive, Machinery Manufacturing, Manufacturing
Number of Employees
1,000 - 20,000
Headquarters
Aurangabad, Maharashtra, India
Established
1985
Net Income
20M - 100M
Revenue
Above - 1B
Traded as
ENDURANCE.NS
Social Media
Overview
Location
Summary
Endurance Technologies Limited, together with its subsidiaries, manufactures and supplies automotive components for original equipment manufacturers in the automotive industry in India and Europe. The company offers die castings, such as high pressure, low pressure, and gravity die castings; machining components, which comprise engines, gearboxes, and transmission parts; other metallic components assembling services, including aluminum alloys, cast iron, and steel; and suspension products design, develop, and manufacture adjustable and non-adjustable damping force inverted front forks and mono shock absorbers. It also provides transmission products comprising clutch assemblies, and cork and paper based friction plates; and continuous variable transmission assemblies; transmission housing, gearbox housing, torque convertor housing, and oil modules for electric vehicles; plastic components, including engine covers for automotive applications; and engine parts. In addition, the company offers brake systems that include disc brakes, hydraulic drum brakes, tandem master cylinders, and asbestos free brake shoes, as well as disc brake assemblies, drum brake assemblies, and rotary discs, as well as aftermarket sales services. Further, it provides spare parts for dealers. The company offers its products for use in two, three, and four wheelers, as well as scooters and quadricycles. Endurance Technologies Limited was founded in 1985 and is based in Aurangabad, India.
History

In 2011, Endurance was bought from Accel-KKR by Warburg Pincus and GS Capital Partners, for around $975 million. In September 2013, the company announced plans to raise $400 million in an IPO. The company announced it would list on the NASDAQ under the ticker symbol EIGI. It went public in October 2013 raising $252 million selling shares to the public at $12 each. This was below the company's target goal of $400 million.In a 2015 investor earnings conference call, the company reported having 4.2 million worldwide customers.This path to increased size is similar to the path networking company Verio followed in the 1990s, using free cash flow and access to capital markets in acquiring assets to add to their corporate portfolio. The concept was to roll up small ISPs into one large ISP and achieve economies of scale. Endurance is acquiring hosting companies domestically and internationally.Blake Cunneen, Endurance's senior vice president of corporate development has stated: "Investing in mergers and acquisitions is a very accretive use of free cash flow and going forward we'll continue to do so. We don't have any deals we're announcing. But we told the Street to expect M&A growth to continue".

In March 2015, the company announced an investment in Netherlands-based technology startup AppMachine, acquiring 40% of the company.In August 2015, EIG announced the acquisition of Site5 and Verio Web Hosting from NTT. It is estimated that EIG gained 86,000+ new subscribers through these acquisitions.In November 2015, the company acquired Constant Contact, and days later laid off 15% of their workforce.Also in November 2015, EIG acquired the assets of Ecommerce, LLC for $28 million. This acquisition included a total of 72,000 subscribers from three different hosting brands: IX Web Hosting, Cloud by IX, and Host Excellence.

In August 2018, the firm's CEO and CFO were fined US$8 million for fraud by the SEC for misrepresenting company subscriber numbers.Endurance acquired Ecomdash in October 2019 for $9.6 million in cash, and placed it under the Constant Contact group.In April 2020, Endurance group won the Google Cloud Expansion Partner of the Year for Asia Pacific.In November 2020, Clearlake Capital Group announced that it would acquire Endurance International Group for around $3 billion.At the closing of the deal in February 2021, Clearlake Capital announced a few wrinkles. Clearlake spun off the Endurance Web Presence division, including subsidiaries Domain.com, Bluehost, and HostGator.

Endurance Web Presence merged with Web.com to form a new company named Newfold Digital in 2021. Newfold Digital is a joint venture between Clearlake Capital and Siris Capital Group . The CEO and all but one "C-level" officers from Web.com were retained after the merger, although EIG was much larger than Web.com. Web.com's strategy, like EIG's, was to grow through acquiring brands which they continued to operate, although they generally did not relocate the infrastructure of their acquired brands.

Clearlake also spun off the Constant Contact division of Endurance into a separate joint venture between Clearlake and Siris.

Mission
Our mission is to provide the automotive industry with solutions that meet the highest quality standards — solutions that are safe, reliable, efficient, and cost-effective.
Vision
Our vision is to be a leader in automotive parts and components, with a passion for innovation that drives us to continuously improve our products and services.
Key Team

Mr. Sunil Lalai (Exec. VP of Legal, Compliance Officer & Company Sec.)

Ms. Varsha Jain (Head of CSR & Facility Management and Exec. Director)

Mr. Sunil Kolhe (Chief Sourcing Officer)

Prabhas Chandra Dash (Pres of Aftermarket)

Satrajit D. Sharma (Chief Technology Officer of India Operations)

Recognition and Awards
Endurance Technologies has been recognized with numerous awards, including the National Award for Excellence from the Automotive Component Manufacturers Association . In addition, it has been awarded the CII-EXIM Bank Award for Business Excellence and the Confederation of Indian Industries Award for Corporate Social Responsibility Excellence.
References

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Endurance Technologies
Leadership team

Mr. Satrajit Ray (Group CFO & Exec. Director)

Mr. Anurang Jain (MD, Promoter & Director)

Mr. Ramesh Gehaney Sr. (COO & Exec. Director)

Products/ Services
Automotive, Machinery Manufacturing, Manufacturing
Number of Employees
1,000 - 20,000
Headquarters
Aurangabad, Maharashtra, India
Established
1985
Net Income
20M - 100M
Revenue
Above - 1B
Traded as
ENDURANCE.NS
Social Media