French automotive supplier, Valeo, buys out Irish counterpart, Connaught Electronics

Ireland, 25 July 2007. M&A International Inc. member firm, IBI Corporate Finance, is pleased to announce that it has successfully advised Connaught Electronics Ltd (CEL), a leading designer and manufacturer of niche electronic components for the automotive industry, on its sale to French multinational company, Valeo SA.

Established in 1982, CEL supplies systems to leading car manufacturers, including BMW, Land Rover, Jaguar, Volvo, Ford, Mercedes Benz and Volkswagen.

The acquisition strengthens Valeo’s Driving Assistance Domain through the extension of its line of camera-based vision solutions for low-speed maneuvering, safety and driver comfort and recognizes CEL’s exceptionally high level of engineering expertise.

Dr Joe McBreen, Chairman of CEL, commented on the deal: “The acquisition will enable CEL to further develop its emerging technologies with the support of a major global automotive supplier. I am delighted that CEL is becoming part of the Valeo Group and am looking forward to further developing the relationship between both companies.”

For further information, please contact:
M&A International Inc. Press and Media Relations
Aylin Ugurlu
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