Aptiv has entered into a definitive agreement to acquire Gabo Systemtechnik (Gabocom) from funds managed by Bregal Unternehmerkapital for around US$310m.

Based in Germany, Gabocom is a provider of cable management and protection solutions for the telecommunications industry.

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With around US$100m in revenue, Gabocom builds on Aptiv’s cable management portfolio.

“Gabocom is a strong fit for Aptiv and highly complementary to our HellermannTyton business,” said Aptiv president and CEO, Kevin Clark.

“This transaction broadens our capabilities in the telecommunications market and expands our platform for growth in key industrial markets.”

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The transaction is subject to regulatory approval and other customary closing conditions and is expected to close by the end of 2019.

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On 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.

Last month Aptiv and Hyundai announced that they would form an autonomous driving joint venture.

The companies say the joint venture will advance the design, development and commercialisation of SAE Level 4 and 5 autonomous technologies.