Irish auto-parts maker Aptiv PLC on Oct. 2 said that it agreed to acquire Germany's Gabo Systemtechnik GmbH, or Gabocom, for $310 million.
Gabocom provides cable management and protection products for the telecom industry. Upon completion, Gabocom will become part of Aptiv's HellermannTyton, a business unit of Aptiv's Signal and Power Solutions segment, which supplies cable protection and repair products.
Aptiv said the acquisition will broaden its capabilities in the telecommunications market, and the deal is expected to be "modestly accretive" to EPS in 2020.
The transaction, which is subject to regulatory approval and customary closing conditions, is expected to close by the end of 2019.
Aptiv said it will acquire Gabocom from funds managed by Bregal Unternehmerkapital GmbH.
GCA Advisors LLC acted as the financial advisor to Aptiv.
