A meeting of minds and the formation of a powerful manufacturing venture
TIVA Global is backed by Duke Corporation after forging a joint venture in September, 2011. Mr. Patwardhan and Mr. McDannold came together with a shared vision: To found and grow a joint company that would be the most trusted Indian brand in the global market in component manufacturing and assembly solutions.
In 2007, Mr. Patwardhan left NASA and returned to India to start Duke, an investment firm focused on deriving significant returns on investment from optimizing manufacturing firms in India. Mr. Patwardhan quickly established a reputation in the market after acquiring a majority stake in Autoline, scaling the firm to over $100M in annual turnover within four years, and structuring a successful IPO (AUTOINDEQ). While at Duke, Mr. Patwardhan grew the firm with over 30 transactions in five years to become a major manufacturer in five countries.
Jason McDannold arrived in India in 2007 to turnaround the HC Kothari Group, and lead their $75M private investment fund. Under his leadership, Kothari increased its exports by over 235% and restructured the organization to become a leading brand worldwide. An accomplished serial entrepreneur, McDannold decided to invest in India and founded TIVA Global, later shifting to the acquisition with Duke Corporation. Under McDannold's leadership, TIVA Global became a leading brand in precision manufacturing for global customers seeking manufacturing solutions within India.
A New Vision
Through the years, Mr. Patwadhan and Mr. McDannold developed a vision for a new kind of company that would be global in its approach, but leverage the cost advantages of manufacturing in India.
- A leading American brand, with operations in India, focused on precision manufacturing, customized mechanisms and mechanical assemblies
- Specialized in contract manufacturing in India for global customers
- Trusted brand for import substitution of a wide range of products within India
- Founded by Jason McDannold in India. American management team, Indian manufacturing base
- More than 50 precision CNCs, VMCs and 5-axis Vertical Turning Lathes for highly precise production
- Complete capability for customized assembly of mechanisms, supply chain management and rapid delivery
Duke Corporation, our investor and joint venture partner
- Global investor and manufacturer with over 26 portfolio companies in India, Sweden and United States
- Specialized in high-volume turned components for the automotive industry
- Founded by Gopal Partwardhan in India.
- Acquired UMA Precision in 2009, an 1,100 person manufacturing entity with $45M in annual turnover
- More than 80 multi-spindle machines (more than any other company in India) under management and a powerful capital base with which to grow
Originally founded in 2001, the Duke Group of Companies had merged to form Duke Corporation, a global asset holding company focused on operations across various industries, including automotive, electrical equipment and transportation. With operations in India, China, Europe and the U.S., we provide growth capital, strategic guidance and operational expertise for our growing portfolio of companies.
While most of our recent growth has come from our past private equity and corporate advisory activities, to date we have closed more than 30 transactions around the globe with a specific focus on high growth industries in emerging markets, or in distressed or turnaround situations in mature markets.
Duke's principal growth strategy has been to expand our holdings with attractive opportunities that further broaden our global reach in precision manufacturing. After acquiring UMA Precision in 2009 (a $45M component manufacturer with 1,100 employees),Duke continued to seek rapidly growing entities with which to partner. Thus, Duke and TIVA formed the joint venture to combine strengths and optimize synergies between the teams.