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Aptiv acquires Winchester Interconnect
Aptiv has entered into a definitive agreement to acquire Winchester Interconnect from an affiliate of Snow Phipps Group for USD 650 million. Based in the United States, Winchester provides custom engineered interconnect solutions for harsh environment applications.
"Winchester further establishes Aptiv as a market leader in connectivity solutions and is a strategic fit to our Signal & Power Solutions segment," said Kevin Clark, President and CEO of Aptiv. "By adding to our over $1 billion in non-automotive revenues today, this transaction further strengthens our adjacent market platform and leverages our harsh environment expertise in engineered components. We are committed to supporting and empowering Winchester's talented team, and we welcome them to Aptiv."
"We are very excited to join Aptiv," said Winchester's President and CEO Kevin Perhamus. "We believe that Aptiv's global reach and leadership in innovation will further enable us to help solve our customers' most difficult connectivity challenges."
The transaction is subject to regulatory approval and other customary closing conditions and is expected to close by the end of 2018. Upon completion of the transaction, Winchester will operate as an independent business unit within Aptiv's Signal & Power Solutions segment.
