Suprajit Engineering has successfully concluded the acquisition of Light Duty Cable (LDC) business unit from Kongsberg Automotive ASA. 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 100% 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 $85 million with operating EBITDA margin of about 8%. The Enterprise Value (EV) of the transaction is $42 million. Suprajit expects the business to exceed $100 million in the next couple of years with double digit EBITDA.
The Company is engaged in the business of manufacturing and selling of automotive and other components and that are considered as single segment.
