Delta Electronics, which supplies power and thermal management products, said it has signed a definitive agreement to purchase, through subsidiary Delta International Holding, 100% shareholdings of HY&T Investments and its subsidiaries, including TB&C Group, a supplier of automotive high voltage hybrid components, from Cooperatief H2 Equity Partners Fund IV and Te Bokkel Beheer for EUR142m.
TB&C, based in Germany, develops hybrid technology for mechanical components used in automotive, industrial, and medical applications.
Its customer base includes automotive companies and tier-1 suppliers.
The transaction was expected to enhance Delta’s EV battery management system (BMS) capability by integrating TB&C’s technology with Delta’s Component Business Group’s automotive component product lines. It would also generate substantial synergy by combining both companies’ R&D and manufacturing resources to accelerate Delta’s EV business expansion.
Ping Cheng, CEO of Delta Electronics, said, “The accelerated growth of the global EV market is expected to help our overall business achieve its two digit growth target over the next five years. We have successfully developed EV powertrain products for global major automotive companies as well as automotive magnetic components, passive components and thermal management products.
“TB&C has remarkable capability and experience in high voltage hybrid components for EVs which complement our power electronics technology.
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“With the addition of TB&C, Delta will be able to expand its EV product line while the collaboration between both companies will make our EV business scope even more comprehensive.”
Robert van der Weck, CEO of TB&C, said: “Delta capability in smart manufacturing and its economic scale will definitively enhance our overall competitiveness.”
TB&C has R&D and sales teams as well as manufacturing facilities in Germany plus manufacturing bases in Mexico and Romania.
It produces hybrid components with outsert technology, insert technology, over moulding, and multi-component injection moulding.
Following the closing of the transaction, TB&C’s executive management team will continue to run the company.