CIMdata PLM Industry Summary Online Archive
26 April 2013
Acquisitions
Tata Technologies to Acquire Cambric –U.S.-based Engineering Services Company
Highlights:
- Access to high-end, systems engineering, engine design and powertrain engineering capability
- Strengthens Tata Technologies’ presence in the global Construction and Heavy Equipment sector
- Delivery expansion with addition of ~450 highly-experienced engineers in Romania and U.S.
- Near-shore delivery presence in Eastern Europe
- Expands Cambric market access and capabilities to Asia Pacific region and the Automotive sector
Tata Technologies today announced that it has signed definitive agreements for the acquisition of U.S.-based Cambric Corporation, a premier engineering services company providing turnkey engineering services to its customers. The partnership will strengthen Tata Technologies’ global footprint and domain capabilities to provide high-end engineering services to a diverse set of existing and new clients, especially in Europe. It will also provide Cambric access to the Asia Pacific region.
Cambric is a U.S. headquartered global engineering services company with a significant footprint in Eastern Europe. The company has three development centers in Romania and its customers include some of the world’s marquee heavy machinery, agricultural, off-highway and automotive companies. Cambric provides system level engineering and design capabilities in engine, powertrain, chassis/structures, body, electrical and hydraulic systems to its global customers. Cambric is a privately held company with private equity investors holding majority stake in the company. Cambric had revenues of $25 million as of 31 December 2012 with majority of revenues coming from the Construction and Heavy Equipment sector.
Commenting on the acquisition, Patrick McGoldrick, Managing Director and CEO, Tata Technologies, said: “Cambric gives our customers in the Construction and Heavy Equipment as well as in the Auto sector access to specialists in this field as well as an access to Cambric’s powertrain expertise. Additionally, Cambric’s customers will have access to Tata Technologies’ footprint in Asia Pacific and complementary capabilities including embedded systems, enterprise IT and extensive automotive domain experience.”
“I am pleased to welcome them to the Tata Technologies family” added Mr. McGoldrick.
Tim Hayes, CEO, Cambric, said: “We are excited to become a part of Tata Technologies ambitious growth strategy and look forward to providing our customers the added breadth, depth and global footprint that the combined entity provides. We see this combination of our two companies as a means to match our clients’ global operations with our own engineering footprint. We will now have similar engineering capability in the Asia Pacific region to supplement our significant Romanian and U.S. presence.”
Cambric was advised by Rothschild and Holland Hart. The transaction is subject to customary closing conditions.
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