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Aptiv To Acquire Gabocom For $310M

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Aptiv PLC (NYSE: APTV) will acquire Gabo Systemtechnik GmbH from funds managed by Bregal Unternehmerkapital for $310 million.

Based in Germany, Gabocom is a cable management company for the telecommunications industry and has approximately $100 million in revenue.

The transaction is expected to close by the end of 2019. Gabocom will then become a part of HellermannTyton, a business unit of Aptiv's Signal and Power Solutions segment.

Related Link: Aptiv, Hyundai Motor Form $4B JV To Test Driverless Systems In 2020

"Gabocom is a strong strategic fit for Aptiv and highly complementary to our HellermannTyton business," said Kevin Clark CEO of Aptiv. "This transaction broadens our capabilities in the telecommunications market and expands our platform for growth in key industrial markets."

Aptiv shares closed Tuesday at $85.11. The stock has a 52-week range between $91.56 and $58.80.

Posted-In: M&A News

 

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