JSA acted as the legal adviser to Petromin Group in the purchase of a majority stake in auto-tech platform SpareIt via subsidiary National Auto Parts (NAP). The JSA transaction team that worked with NAP included partner Rishabh Gupta, associates Sarthak Sood, Akshath Mithal and Ksanjana Chana, and company secretary Alisha Chawla.
“Our investment in SpareIt’s integrated e-commerce platform delivers efficiencies, increased foot traffic as well as competitive prices and services. Currently functional in India with over 7,000 active garages, the app will soon be introduced in the Kingdom of Saudi Arabia,” NAP CEO Steve Horne said in the deal announcement.
Petromin is a Saudi Arabian lubricants and automotive services company, with business interests in auto products, services, fuel, and electric vehicles (EVs) etc. SpareIt, the Bengaluru-based company launched in July 2020, provides small and independent garages with quick access to spare parts procurement, business management tools, and EV readiness training programmes.