Lifelong Group, an Indian conglomerate focussed on auto component manufacturing, medical devices and e-commerce, has acquired a majority stake in GoMechanic under the Servizzy consortium. The move comes after GoMechanic recently faced financial difficulties and the board and stakeholders with support from Stride Ventures initiated the sale process to ensure the continuity of GoMechanic s business.
Lifelong India Private Limited is a private company established in 1985. The group diversified into auto component manufacturing in 1995, medical devices in 2005, and e-commerce in 2015. The business has grown from an annual revenue of $0.5 million in 1995 to over $175 million today and caters to major customers in the automotive industry, including Hero Moto Corp, General Motors, Arvin Meritor, and Stanley Black & Deck.