DUBLIN, Oct. 2, 2019 /PRNewswire/ -- Aptiv PLC (NYSE: APTV), a global technology company enabling the future of mobility, announced today that it has entered into a definitive agreement to acquire gabo Systemtechnik GmbH ('gabocom') from funds managed by Bregal Unternehmerkapital for approximately $310 million.
Based in Germany, gabocom is a leading provider of highly-engineered, high-quality cable management and protection solutions for the telecommunications industry. With approximately $100 million in revenue, gabocom further builds upon Aptiv's cable management portfolio.
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'gabocom is a strong strategic fit for Aptiv and highly complementary to our HellermannTyton business,' said Kevin Clark, President and CEO of Aptiv. 'This transaction broadens our capabilities in the telecommunications market and expands our platform for growth in key industrial markets.'
The transaction is subject to regulatory approval and other customary closing conditions and is expected to close by the end of 2019. Upon completion of the transaction, gabocom will become a part of HellermannTyton, a business unit of Aptiv's Signal and Power Solutions segment. The transaction is expected to be modestly accretive to EPS in 2020.
Advisors GCA Advisors, LLC is serving as exclusive financial advisor to Aptiv.
About Aptiv Aptiv is a global technology company that develops safer, greener and more connected solutions enabling the future of mobility. Visit aptiv.com.
About gabocom gabocom is a leading provider of highly-engineered cable management and protection solutions for the telecommunications industry. Visit www.gabo.eu/en.
About Bregal Unternehmerkapital Bregal Unternehmerkapital is part of a family-owned business and helps companies achieve a sustained improvement in sales and profitability. It provides them with capital, proven financial expertise and access to a broad network. Visit www.bregal.de/en.
Forward-Looking StatementsThis press release, as well as other statements made by Aptiv PLC (the 'Company'), contain forward-looking statements that reflect, when made, the Company's current views with respect to current events, the proposed transaction and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company's operations and business environment, which may cause the actual results of the Company to be materially different from any future results. All statements that address future operating, financial or business performance or the Company's strategies or expectations are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are discussed under the captions 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in the Company's filings with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. It should be remembered that the price of the ordinary shares and any income from them can go down as well as up. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise, except as may be required by law.
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SOURCE Aptiv PLC
DisclaimerAptiv plc published this content on 02 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 October 2019 10:42:04 UTC
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