At InnoTrans 2026, the world’s leading trade fair for rail transport technology, MAFELEC TEAM announces the signing of a Letter of Intent (LOI) to acquire Intra Industries, an Indian company founded and led by Rishabh Kothari. MAFELEC TEAM designs and manufactures smart and sustainable interface solutions for railway, aerospace, defense, energy, bus and industrial vehicle applications.
The transaction marks a defining step in the company’s international growth strategy. Its portfolio already brings together the PETERCEM, COMTRONIC, FULL ELECTRONIC SYSTEM, MAFELEC, MAFELEC CHINA, TSL-ESCHA and STOPCIRCUIT brands, together with commercial subsidiaries in the United Kingdom, Poland and the Czech Republic.
India is a strategic market for MAFELEC TEAM. Building on 15 years of experience in the country, the company is reaffirming its long-standing commitment to the region and strengthening its ability to deliver locally adapted solutions to Indian customers.
Intra Industries brings MAFELEC TEAM a complementary technology portfolio across four product families: interior lighting, power electronics, predictive maintenance and technical fabric solutions for rail applications. These capabilities directly broaden MAFELEC TEAM’s portfolio, with minimal overlap with its existing offerings.
In turn, the acquisition will enable Intra Industries to access new opportunities across MAFELEC TEAM’s key markets, including aerospace, defense, energy, bus and industrial vehicle applications.
This Letter of Intent is a decisive step for MAFELEC TEAM. It allows us to build a lasting presence in India, a strategic, high-growth market, and to offer our customers a more complete, more local and more competitive response.
Gilles Heinrich, President, MAFELEC TEAM
Joining MAFELEC TEAM gives Intra Industries the means for a new dimension: access to a recognized European industrial group, its international key accounts, and an ambitious investment roadmap for our teams and customers in India.
Rishabh Kothari, Founder and CEO, Intra Industries
The signing of this Letter of Intent opens a period of exclusivity and due diligence. Completion of the transaction and its financial terms will be communicated at a later stage, subject to customary closing conditions.
Based in India and founded by Rishabh Kothari, Intra Industries, with a workforce of 75 people, designs and manufactures interior lighting, power electronics, predictive maintenance and technical fabric solutions for industrial and transport markets.
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