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Delphi Buys U.K. Parts Business
Delphi Automotive plc has completed the acquisition of Gillingham, England-based FCI Group's electronic connectors unit from private equity firm Bain Capital for €765 million.
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Delphi Automotive plc has completed the acquisition of Gillingham, England-based FCI Group's electronic connectors unit from private equity firm Bain Capital for €765 million.
The partners entered exclusive negotiations for the sale in late May. Delphi says the deal will expand its presence in Asia and enhance its portfolio of connectors for hybrid and electric vehicles.
The unit, which is known as the Motorized Vehicles division, will become part of Delphi's electrical and electronics business. The Troy, Mich.-based company expects to achieve $80 million (€61 million) of annual pretax synergy savings at the unit by 2015.
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