H2 Equity Partners (‘H2’) is pleased to announce that it has sold her majority holding in TB&C, a leading provider of automotive high-voltage hybrid components. The enterprise value is EUR 142 million.
Delta Electronics is a global leading provider of power and thermal management solutions, with circa US$ 13 billion in revenues. The company was founded in 1971. The transaction is expected to enhance Delta’s EV battery management system capabilities by integrating TB&C’s technologies with Delta’s Component Business Group’s automotive production lines. It will also generate substantial synergies by leveraging both companies’ R&D and manufacturing.
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 5 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 a 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 a key strategic segment of our hybrid components and drives our sustainable growth forward. In our focus areas in e-mobility, Delta’s Component Business Group’s outstanding electronic 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 various 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 scale will definitely enhance our competitiveness.”
Gert Jan van der Hoeven, Managing Partner at H2 Equity Partners, added: “We are very proud of the transformation that has been accomplished under the leadership of the TB&C management, from a roof mechanism manufacturer to a leading Tier-1 E-Mobility connectivity solutions provider. We are convinced that the Company will be able to accelerate its growth even further in the partnership with Delta”.
The TB&C shareholders were advised by Lincoln and Houthoff.
TB&C is an industry leader in hybrid components and 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. It’s core competences include outsert technology, insert technology, over moulding, and multi-component injection moulding. TB&C has excellent R&D project management and sales teams, as well as manufacturing facilities in its operational headquarters in Germany. In addition, it has manufacturing locations is Mexico and Romania. A majority shareholding in TB&C was acquired by H2 Equity Partners in early 2017.
In 2022 TB&C had revenues of circa EUR 75 million, and has over 600 employees.
About H2 Equity Partners
H2 Equity Partners, founded in 1991, is an independent investment firm. H2 focuses on medium sized companies that are uniquely positioned and provide significant growth potential. H2 offers these businesses a combination of capital and active management support to realize untapped potential. H2 has a robust, multi-sector track record in building stronger companies, that have a sustainable competitive advantage and profitable growth.