Tata AutoComp Systems Limited, (“TATAAUTOCOMP”), a leading Indian automotive components manufacturer, has entered into definitive agreements to acquire up to 80% shareholding of Artifex Interior Systems Limited (formerly known as IAC UK).
On completion of this transaction, Artifex, with revenue of GBP 296 million (FY24-25), will join the TATA AutoComp family. Completion of the acquisition is subject to customary closing conditions and approvals. TACO has purchased the majority shareholding from Jaguar Land Rover Ventures Limited, a subsidiary within the Jaguar Land Rover Automotive plc group, which is part of Tata Motors Limited.
This acquisition leverages Tata AutoComp’s global presence and expertise in automotive component manufacturing and Artifex’s cutting-edge automotive innovation in interior systems and components (including design, manufacture and integration of overheads systems, instrument panels, centre consoles, door panels and interior trim) to enhance the company’s relationships with key OEMs (including Jaguar Land Rover, BMW Mini, Bentley, INEOS, and Toyota) in the passenger vehicle segments, particularly in Europe. With this acquisition, Tata AutoComp consolidates its position as one of India’s largest automotive component manufacturers, strengthens its presence in Europe’s automotive sector, and further establishes itself as an integral part of the supply chain for Jaguar Land Rover vehicles.
Commenting on the acquisition, Mr. Arvind Goel, Vice Chairman of Tata AutoComp Systems, said: “We are pleased to welcome Artifex into the Tata AutoComp family. This acquisition aligns with our strategic vision of expanding our global footprint and strengthening our expertise in automotive interior systems. Artifex’s advanced manufacturing capabilities and established customer relationships will enhance our presence in key markets, enabling us to deliver differentiated solutions and drive long-term growth.”
Mr. Manoj Kolhatkar, MD & CEO of Tata AutoComp Systems, added:
“Artifex’s technical expertise and advanced manufacturing capabilities enhance our technological leadership, strengthening our presence in the premium automotive segment.”
