PRESS RELEASE
Intercable Automotive Solutions, an industry-leading provider of high-voltage busbars and interconnect solutions, signs a definitive agreement to sell majority to Aptiv.
The combination with Aptiv enables the Intercable Automotive Solution Technology to go global.
BRUNICO, September 13th, 2022 – Intercable S.r.l., a leading technology company in busbar and interconnect systems, announced today it has entered into a definitive agreement to sell an 85% equity stake of their subsidiary Intercable Automotive Solutions, to Aptiv PLC (NYSE: APTV), a global technology company focused on making mobility safer, greener and more connected.
Aptiv is a global technology leader with more than 190,000 people across 127 manufacturing facilities and 12 major technical centers worldwide. With a presence in 46 countries, Aptiv addresses mobility’s toughest challenges through its deep software and systems integration expertise, delivering market relevant solutions for its customers.
Based in Brunico, Italy with manufacturing facilities in Europe and Asia, Intercable Automotive Solutions is an industry leader and pioneer in high-voltage power distribution and high-precision connection technologies. With over €250 million in 2022 estimated sales, the business designs and manufactures innovative solutions that address the most complex challenges in vehicle electrification. Intercable Automotive Solutions’ product portfolio includes seven generations of high-voltage busbar technology, solid-state electrical centers, battery cell interconnect systems, and other high-voltage power distribution solutions.
Intercable Automotive Solutions will enhance its position as a technology leader with a global approach by leveraging Aptiv’s unique global footprint and technical expertise on vehicle architecture systems. Similarly, Aptiv will enhance its position as a global leader in vehicle architecture systems by leveraging Intercable’s highly automated manufacturing processes, innovative product design, and strategic relationships with key European automotive OEMs.
“We are very excited about the opportunities ahead,” said Intercable’s CEO, Klaus Mutschlechner, who will continue to lead Intercable Automotive Solutions in his current role. “Joining forces with Aptiv will enable us to bring our advanced products and technologies to customers around the world by leveraging their extensive scale and global reach.” The Mutschlechner family, who founded Intercable in 1972, will retain 15% ownership interest in the business.
“Intercable Automotive Solutions is an excellent strategic fit with Aptiv’s Signal & Power Solutions segment,” said Kevin Clark, Chairman and CEO of Aptiv. “The combination strengthens our position as a full system supplier for electric vehicle manufacturers. In addition, Intercable’s differentiated technology design and manufacturing capabilities will enable a more efficient and cost-effective vehicle assembly operation for our customers.”
The transaction is subject to regulatory approval and other customary closing conditions and is expected to close before the end of 2022. Upon completion of the transaction, Intercable Automotive Solutions will operate as a stand-alone business unit within Aptiv’s Signal & Power Solutions segment.
Advisors:
BNP Paribas is serving as exclusive financial advisor to Intercable and Advant Nctm as well as Bureau Plattner are serving as legal advisors. Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Aptiv and Clifford Chance is serving as legal advisor.
About Intercable Automotive Solutions:
Intercable Automotive Solutions, a division of Intercable S.r.l., is a leading provider of automotive power distribution and connection technologies, with a comprehensive portfolio of insulated and over molded busbars for high voltage applications, as well as electrical centers, battery cell interconnect systems, and other power distribution technologies. For more information about Intercable Automotive Solutions, visit www.intercable-as.com
About Aptiv:
Aptiv PLC is a global technology company that develops safer, greener and more connected solutions enabling a more sustainable future of mobility. With more than 190,000 employees strategically located to serve customers globally, Aptiv is solving the industry’s toughest challenges with scalable, intelligent platforms that accelerate the transition to software-defined electric vehicles. To learn more about the Company’s unique brain and nervous system portfolio and its commitment to sustainability, visit www.aptiv.com
Contacts:
Intercable Marketing
marketing@intercable.com