Delta to Acquire TB&C, a Leading Provider of Automotive High-voltage Hybrid Components, to Strengthen its EV Business Portfolio

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Jun 15, 2023, 11:14 ET

TAIPEI, June 15, 2023 /PRNewswire/ -- Delta Electronics, Inc. (later referred to as "Delta"), a global leading provider of power and thermal management solutions, today announced the signing of a definitive agreement to purchase, through its subsidiary Delta International Holding Limited B.V., 100% shareholdings of HY&T Investments Holding B.V. and its subsidiaries, including TB&C Group, a leading provider of automotive high-voltage hybrid components, from Cooperatief H2 Equity Partners Fund IV Holding W.A. and Te Bokkel Beheer B.V. for 142 million euros (approx. NT$ 4,661,860 thousand). TB&C, with its operational headquarters in Germany, develops industry-leading hybrid technologies for mechanical components applied in automotive, industrial, and medical applications. Its customer base includes world-class automotive companies, as well as tier-1 automotive suppliers. The transaction 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. It will also generate substantial synergies by leveraging both companies' R&D and manufacturing resources to accelerate Delta's overall EV business expansion.

Ping Cheng, CEO of Delta Electronics, said, "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. 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".

TB&C has excellent R&D and sales teams as well as manufacturing facilities in its operational headquarters in Germany. In addition, it has manufacturing bases in Mexico and Romania. TB&C is an industry leader in hybrid components with core competence including outsert technology, insert technology, over molding, and multi-component injection molding. Following the closing of the transaction, TB&C's executive management team will continue to lead the organization.

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** The closing of the transaction is subject to satisfaction of certain closing conditions in the transaction agreement, including relevant regulatory approval.

For more information about TB&C, please visit: https://www.hybrid-technologies.com/company/

About Delta

Delta, founded in 1971, is a global leader in switching power supplies and thermal management products with a thriving portfolio of smart energy-saving systems and solutions in the fields of industrial automation, building automation, telecom power, data centre infrastructure, EV charging, renewable energy, energy storage and display, to nurture the development of smart manufacturing and sustainable cities. As a world-class corporate citizen guided by its mission statement, "To provide innovative, clean and energy-efficient solutions for a better tomorrow," Delta leverages its core competence in high-efficiency power electronics and its ESG-embedded business model to address key environmental issues, such as climate change. Delta serves customers through its sales offices, R&D centres and manufacturing facilities spread over close to 200 locations across 5 continents.

Throughout its history, Delta has received various global awards and recognition for its business achievements, innovative technologies and dedication to ESG. Since 2011, Delta has been listed on the DJSI World Index of Dow Jones Sustainability™ Indices for 12 consecutive years. In 2022, Delta was also recognized by CDP with double A List for its substantial contribution to climate change and water security issues and named Supplier Engagement Leader for its continuous development of a sustainable value chain for the 3rd consecutive year.

For detailed information about Delta, please visit: https://www.deltaww.com

SOURCE Delta Electronics, Inc.