Delphi Automotive PLC has acquired HellermannTyton Group PLC, a global manufacturer of high-performance cable management solutions.
The transaction is valued at £1.07 billion ($1.09 billion) on a cash and debt-free basis. Delphi expects the transaction to be 15 cents accretive to earnings per share starting in 2016, excluding one-time expenses for integration.
According to Kevin Clark, Delphi’s president and CEO, the acquisition strengthens the company’s leadership position in the automotive electrical architecture market, while also providing growth opportunities in HellermannTyton’s adjacent industrial end-markets. “The combined capabilities will allow Delphi to further capitalize on future growth trends while creating significant value for our customers and shareholders,” said Clark.