Suprajit Engineering acquires Light Duty Cable biz of Kongsberg Automotive

12 Apr 2022 , 01:35 AM

Suprajit Engineering announced that it has successfully concluded the acquisition of Light Duty Cable LDC business unit from Kongsberg Automotive ASA Kongsberg Automotive The LDC business unit of Kongsberg Automotive supplying to automotive non-automotive and 2-wheeler segments along with Electro-Mechanical Actuators EMA is now part of Suprajit Group All the four LDC related entities are now 100Percentage owned stepdown subsidiaries of Suprajit through Suprajit USA Inc LDC consists of three manufacturing plants located at Matamoros Mexico Siofok Hungary and Shanghai China It has a Tech Centre at Novi Detroit USA and a distribution centre in Brownsville USA The transaction also involves the transfer of global sales and engineering expertise related to the LDC business located in US Germany France Sweden and the UK to Suprajit The total employee strength of LDC is around 1300 The sales for the calendar year 2021 was US$ 85 million with operating EBITDA margin of about 8Percentage The Enterprise Value EV of the transaction is US$ 42 million Suprajit expects the business to exceed US$ 100 million in the next couple of years with double digit EBITDA LDC has marquee global customers in the automotive non-automotive and 2-wheeler businesses including Tesla Fiat Land Rover Mercedes Honda STIHL Shiroki Adient Husqvarna Lear Magna etc Suprajits annual global cable capacity will now exceed 400 million Suprajit will also acquire the actuation technology through this transaction making Electro-Magnetic Actuators EMA a new product segment for the group This acquisition will bring much needed focus to the cable business for the LDC division