The Lifelong Group are manufacturers of parts and assemblies for Hero MotoCorp and General Motors.
Indian car repair start-up GoMechanic has been acquired by a consortium led by car parts manufacturer Lifelong Group.
GoMechanic has been in the news recently after co-founder Amit Bhasin admitted to financial misreporting. It was followed by massive layoffs and a third-party audit of the company’s accounts.
Without divulging the details of the deal, Lifelong Group stated that the transaction would assist in preserving the ecosystem at large and also help provide a continued livelihood to the employees of GoMechanic.
The Lifelong Group are manufacturers of parts and assemblies for Hero MotoCorp, General Motors, Arvin Meritor, Magna International Inc and BorWarner Inc, among others. The deal will help the company expand its operations in the automotive service and repair sector.
GoMechanic was founded in 2016. It operates a network of partner garages that offer car repair services. The platform is said to have over 900 garages in more than 40 cities. Some of its major investors include Tiger Global, Sequoia Capital and Chiratae Ventures.
Keyword: GoMechanic acquired by car parts maker Lifelong Group