Tata AutoComp Systems Limited has signed definitive agreements to acquire up to 80% shareholding in Artifex Interior Systems Limited (formerly IAC UK) from Jaguar Land Rover Ventures Limited, a subsidiary of Jaguar Land Rover Automotive plc. The acquisition, which is subject to customary closing conditions and regulatory approvals, brings Artifex into Tata AutoComp’s portfolio.
Artifex Interior Systems is projected to generate GBP 296 million in revenue for the 2024-25 financial year. The company specializes in interior system technologies such as overhead systems, instrument panels, centre consoles, door panels, and trim solutions.
The acquisition is expected to strengthen Tata AutoComp’s presence in the European passenger vehicle market, where Artifex supplies components to Jaguar Land Rover, BMW Mini, Bentley, INEOS, and Toyota.
“This acquisition aligns with our strategic vision of expanding our global footprint and strengthening our expertise in automotive interior systems,” said Arvind Goel, Vice Chairman, Tata AutoComp Systems. “Artifex’s capabilities and established customer relationships will help us deliver differentiated solutions and drive long-term growth.”
Manoj Kolhatkar, Managing Director and CEO, Tata AutoComp Systems, stated, “Artifex’s technical expertise and advanced manufacturing capabilities enhance our technological leadership and reinforce our presence in the premium automotive segment.”
Tata AutoComp is one of India’s major automotive component manufacturers. The acquisition is expected to reinforce its supply chain integration with Jaguar Land Rover and expand its operations in the European market.