Auto parts giant Delphi buys electrical system specialist HellermannTyton
In a bid to expand its electrical architecture global business, auto supplier Delphi Automotive is acquiring electrical system specialist HellermannTyton Group for US$1.67 billion.
According to Delphi, the purchase is ultimately designed to expand its product portfolio within the connected vehicle solutions market and will help it capitalize on the connected car megatrend.
Headquartered in Gillingham, England, Delphi is one of the world’s largest automotive parts manufacturers and has approximately 161,000 employees. With offices worldwide, the company operates 126 manufacturing sites and 15 technical centres across 32 countries
“With consumers now demanding more connectivity in their vehicles, electrical architecture is the enabler to that added vehicle content,” Delphi president and CEO Kevin Clark said in a statement. “HellermannTyton positions Delphi to provide customers with an even broader portfolio of highly engineered and customized connection systems and cable management solutions. By leveraging the combined capabilities of both companies, we will be able to capitalize on additional growth opportunities and create significant value for our customers and shareholders.”
The deal is expected to close in late 2015.
HellermannTyton is based in Crawley, England.