Aptiv said it had completed the acquisition of an 85% equity stake in Intercable Automotive Solutions from Intercable.

The high voltage power distribution and interconnect technology company would enhance Aptiv’s self described position as a global leader in vehicle architecture systems.

The transaction was valued at EUR595m, subject to customary post-closing adjustments, and was expected to be accretive to earnings per share starting in 2023.

“Intercable Automotive Solutions further strengthens our capabilities to design and deliver fully optimised high voltage architecture solutions that reduce vehicle weight, mass, and cost,” said Kevin Clark, Aptiv chairman and chief executive officer.

The new buy will operate as a stand-alone business unit within Aptiv’s signal & power solutions segment and will continue to sell under its current claimed industry-leading brand.