February 2, 2017 | Announcements
GCA Advises Delphi on the Sale of a Portion of Its Mechatronics Business to Northeast Industries and Ophoenix
We are pleased to announce that our client, Delphi Automotive PLC (“Delphi”), has sold a portion of its mechatronics business and related assets (newly incorporated as “Merit Automotive Electronics Systems S.L.” or “Merit”) to an investment consortium led by Northeast Industries Group Co., LTD (“Northeast Industries”) and also including Ophoenix Capital Management Inc. (“Ophoenix”) as a co-investor.
This transaction is consistent with Delphi’s stated strategy of focusing its product portfolio on more technology-oriented, high growth segments of the automotive market. Merit manufactures column switches, switch modules and simple switches for the global automotive industry at facilities in Spain, Poland, Mexico, China and Brazil.
GCA acted as exclusive financial advisor to Delphi in connection with this transaction.
Delphi Automotive PLC (NYSE: DLPH) is a high-technology company that integrates safer, greener and more connected solutions for the automotive and transportation sectors. Headquartered in Gillingham, U.K., Delphi operates technical centers, manufacturing sites and customer support services in 46 countries.
About Northeast Industries
Headquartered in Changchun, China, Northeast Industries offers vehicle power train systems, brake systems, clutches, flywheels and ring gears, transmission systems, antennas, vehicle lighting products, vehicle mirrors, hydraulic tilting mechanism products, and drive axles, among other products, to automobile OEMs worldwide. Northeast Industries is a wholly-owned operating subsidiary of China North Industries Group Corporation (“Norinco”), which has revenues over $50 billion.
Ophoenix is a China-based and automotive-focused advisory and investment firm.
GCA is a premier global investment bank serving a broad client base through a range of advisory services including mergers and acquisitions, debt and equity capital markets, private funds, restructuring, and asset management. GCA is a global advisor providing unbiased, insightful advice and is focused on building long-term relationships based on trust. GCA delivers deep expertise in many key industries and has a particular focus in Technology, Software, Media, Digital Media, Communications, Industrials and Industrial Technology, Healthcare, Financial Institutions, FinTech and Business Services. GCA has teams of highly experienced bankers in San Francisco, New York, Tokyo, Frankfurt, London, Manchester, Milan, Mumbai, Munich, Osaka, Shanghai, Singapore, Tel Aviv and Zurich. For more information, visit www.gcaglobal.com.