Tata AutoComp Systems Limited has entered into a conditional agreement to acquire 100% of IAC Group (Slovakia) s.r.o. through its British subsidiary Artifex Interior Systems Limited. The transaction, announced August 7, 2025, requires regulatory approvals before completion.
The acquisition targets IAC Slovakia's manufacturing facility in Lozorno, which employs approximately 800 professionals and generated $190 million in revenue during fiscal year 2024.
The facility produces automotive interior and exterior components, including door systems, trim systems, pillars, instrument panels, cockpits, and consoles for major original equipment manufacturers including Jaguar Land Rover and Volkswagen.
IAC Slovakia's facility occupies a location near the borders of Czechia, Austria, and Hungary. The site specializes in manufacturing processes that complement Artifex's existing capabilities in plastic molding, lamination, slush molding, and precision assembly.
Artifex, acquired by Tata AutoComp in an earlier transaction, currently operates three manufacturing facilities in Elmdon, Scunthorpe, and Halewood in the United Kingdom.
The subsidiary employs approximately 1,800 professionals and serves clients including Jaguar Land Rover, BMW Mini, Bentley, INEOS, and Toyota. Artifex's estimated revenue for fiscal year 2025 is approximately £400 million.
The transaction forms part of Tata AutoComp's expansion strategy in European markets. Arvind Goel, Vice-Chairman of Tata AutoComp, stated that the acquisition represents a milestone in the company's global growth plans and will strengthen the company's European presence.
Manoj Kolhatkar, Managing Director and CEO of Tata AutoComp, indicated that the company expects synergies between IAC Slovakia's capabilities and existing European operations to enable integration and value delivery to customers.
Established in 1995, Tata AutoComp operates as part of the Tata Group conglomerate. The company manufactures automotive components and systems for passenger vehicles, commercial vehicles, electric mobility, two- and three-wheelers, tractors, and off-road vehicles. Its product portfolio includes engine cooling solutions, automotive batteries, rear-view mirrors, HVAC systems, exhaust and emission control systems, and seating systems.
The company operates 68 manufacturing facilities worldwide with over 20,000 employees across 20 business units, including 10 joint ventures with global auto-component manufacturers.
In the electric mobility sector, Tata AutoComp produces battery packs, battery cooling systems, battery management systems, motors, controllers, integrated drivetrains, and EV chargers.