US based automotive supplier, Delphi Automotive is planning to acquire FCI Group's (FCI) Motorized Vehicles Division (MVL), an automotive connection systems maker, in a deal valuing $972m (EUR765m).
Based in the UK, MVL produces interconnection systems for various automotive applications, has posted a revenue of EUR692m in the year ended 31 December 2011 which currently owned by Bain Capital's affiliates.
Delphi president and chief executive officer Rodney O'Neal said the addition of MVL strengthens the high growth connector product portfolio of the company's E/EA segment, broadens its mix of global customers and furthers strategy of providing the customers with solutions to address the trends of Safe, Green and Connected.
"As a result, following the acquisition, we will be better positioned to further drive growth in electronic content in motor vehicles," Neal said.
Following the completion of transaction, expected to be completed by end of 2012, MVL, will be under Delphi's Electrical / ElectronicArchitecture division (E/EA).
The deal will further expand Delphi's current connector business, which comprises connectors for the safety restraint systems (SRS) market, powertrain and electrical vehicles (EV), and enhance the company's global reach.
