The private investment firm Bain Capital has signed a definitive agreement to acquire AREVA's connectors subsidiary, FCI, in a transaction that values FCI at €1.067 billion. FCI manufactures electrical and electronic interconnect systems for automotive applications, among others.
"Bain Capital has a strong track record of acquiring non-core divisions of larger corporations in many industries, and building the business successfully in partnership with management,” said Steve Pagliuca, a managing director at Bain. Areva plans to concentrate on its energy business.