Tata AutoComp announces Artifex Interior Systems acquisition

Tata AutoComp Systems Limited (“TATAAUTOCOMP”), a prominent Indian automotive components manufacturer, has entered into definitive agreements to acquire up to 80% of the shareholding in Artifex Interior Systems Limited, formerly known as IAC UK. Upon completion of the acquisition, Artifex, which is projected to generate a revenue of GBP 296 million in FY24-25, will become part of the Tata AutoComp family. The transaction is expected to conclude once customary closing conditions and approvals are met. Tata AutoComp has purchased the majority of the shares from Jaguar Land Rover Ventures Limited, a subsidiary of the Jaguar Land Rover Automotive plc group, which is part of Tata Motors Limited. This strategic acquisition combines Tata AutoComp’s global manufacturing presence with Artifex’s cutting-edge innovation in automotive interior systems and components, such as the design, manufacturing, and integration of overhead systems, instrument panels, center consoles, door panels, and interior trim. The move is set to enhance the company’s relationships with key Original Equipment Manufacturers (OEMs), including Jaguar Land Rover, BMW Mini, Bentley, INEOS, and Toyota, particularly in Europe’s passenger vehicle market. By acquiring Artifex, Tata AutoComp strengthens its position as one of India’s largest automotive component manufacturers and further solidifies its presence in the European