Global technology company Aptiv PLC announced it completed the acquisition of an 85% equity stake in Intercable Automotive Solutions from Intercable S.r.l.
Intercable Automotive Solutions, a high-voltage power distribution and interconnect technology provider, will enhance Aptiv’s position as a global leader in vehicle architecture systems, the company says. The transaction is valued at €595 million, subject to customary post-closing adjustments, and is expected to be accretive to earnings per share starting in 2023.
“Intercable Automotive Solutions further strengthens our capabilities to design and deliver fully optimized high voltage architecture solutions that reduce vehicle weight, mass, and cost,” said Kevin Clark, chairman and chief executive officer. “By leveraging Aptiv’s global reach, Intercable Automotive Solutions will be able to expand its footprint and deliver innovative technologies to more customers worldwide. We are excited to welcome them to the Aptiv team.”
Intercable Automotive Solutions will operate as a stand-alone business unit within Aptiv’s Signal & Power Solutions segment and will continue to go to market under its current brand.
