Delta to buy TB&C for €142m EV power boost
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Delta Electronics is to acquire the TB&C Group, a leading provider of automotive high-voltage hybrid components in Germany, for €142m.
TB&C has its operational headquarters in Germany and develops hybrid technologies for automotive, industrial, and medical applications, including electric vehicles (EVs), with a customer base of automotive companies and tier-1 automotive suppliers. It has manufacturing bases in Mexico and Romania.
The deal is expected to enhance Delta’s EV battery management system (BMS) capabilities by integrating TB&C’s technologies with Delta’s Component Business Group’s automotive component product lines. Delta will also combine the R&D and manufacturing resources to accelerate Delta’s overall EV business expansion.
TB&C, a spin out of technology from Philips, is currently owned by European private equity firms Cooperatief H2 Equity Partners Fund IV Holding W.A. and Te Bokkel Beheer BV. Following the closing of the transaction, TB&C’s executive management team will continue to lead the organization.
“The accelerated growth of the global EV market is expected to help Delta’s overall business achieve its two-digit growth target over the next five years,” said Ping Cheng, CEO of Delta Electronics.
“Delta has successfully developed EV powertrain solutions for global major automotive companies, as well as automotive magnetic components, passive components and thermal management solutions. TB&C has remarkable capabilities and rich experience in the high-voltage hybrid components for EVs, which complement Delta’s world-leading power electronics technology. With the addition of TB&C, Delta will be able to expand its EV product portfolio, while the collaboration between both companies will make our EV business scope even more comprehensive.“
Robert van der Weck, CEO of TB&C, said, “E-mobility is also the key strategic segment of our hybrid components and drives our sustainable growth going forward. In our focus areas in e-mobility, Delta’s Component Business Group’s outstanding electronics components have been widely recognized by global automotive companies. We are happy to join Delta and believe the complementarity between Delta and TB&C in technologies will create synergies in developing innovative product offerings with higher added-value for our customers. Moreover, Delta’s capabilities in smart manufacturing and its economic scale will definitively enhance our overall competitiveness.”
Gert Jan van der Hoeven, Managing Partner of H2 Equity Partners added: “We are very proud of the transformation that has been accomplished under the leadership of management from a roof mechanism producer to a leading Tier 1 E-Mobility connectivity solutions provider. We are convinced that the company will be able to accelerate growth even further in partnership with Delta.”
www.hybrid-technologies.com/company/
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