Accelevation Holdings Valuation Multiples

Oracle is an American multinational technology company headquartered in Austin, Texas, having moved its head office from Redwood Shores, California, in December 2020. It was co-founded on June 16, 1977, in Santa Clara, California, by Larry Ellison, Bob Miner and Ed Oates as Software Development Laboratories, and took its name from its flagship Oracle Database. Oracle sells database software, enterprise applications including enterprise resource planning, human capital management, customer experience and supply chain software, Oracle Cloud Infrastructure and hardware to businesses and governments. It acquired Sun Microsystems and, in June 2022, Cerner for $28.3 billion, which now forms Oracle Health. In January 2025 Oracle joined OpenAI, SoftBank and MGX in the Stargate AI infrastructure venture, and in September 2025 it signed a $300 billion contract with OpenAI for 4.5 gigawatts of capacity over five years. For the quarter ended November 2025 it reported revenue of $14.1 billion, with cloud infrastructure revenue up 68% to $4.1 billion and remaining performance obligations of $130 billion. It employed 141,000 full-time staff in May 2026, and Clay Magouyrk and Mike Sicilia succeeded Safra Catz as co-CEOs, with Ellison as chairman and chief technology officer.

Siemens is a German industrial technology group headquartered in Munich that supplies automation, electrification, rail and healthcare equipment, software and services. It was founded in Berlin on October 1, 1847 by Werner von Siemens and Johann Georg Halske as Telegraphen-Bauanstalt von Siemens & Halske. The group reports through Digital Industries (factory automation and industrial software), Smart Infrastructure (buildings and electrical distribution), Siemens Mobility (rolling stock, signalling and rail systems) and Siemens Financial Services, and holds about 75% of separately listed Siemens Healthineers. It sells mainly to manufacturers, utilities, infrastructure owners, transit operators and hospitals, and in fiscal 2025 generated revenue of €78.9 billion and net income of €10.4 billion with about 327,000 employees. In 2020 it spun off Siemens Energy, keeping a 17.1% stake, and bought Varian Medical Systems for US$16.4 billion; in 2025 it added Altair Engineering for about US$10 billion, its largest acquisition, and Dotmatics for US$5.1 billion. Roland Busch has been chief executive since February 2021, and the shares trade on the Frankfurt Stock Exchange as a DAX member.

Arista Networks is a networking equipment provider that primarily sells Ethernet switches and software to data centers. Its marquee product is its extensible operating system that runs a single image across every single one of its devices. The firm operates as one reportable segment. It has steadily gained market share since its founding in 2004, with a focus on high-speed applications. Arista counts Microsoft and Meta Platforms as its largest customers and derives roughly three-fourths of its sales from North America.

Amphenol is a United States manufacturer of electrical, electronic and fiber-optic interconnect products, sensors and cable systems. Its connector portfolio supports applications involving high-speed data, electrical power, radio-frequency signals and operation in demanding environments. The company also supplies cable assemblies, wiring harnesses, antennas, power distribution components and flexible or rigid printed circuit boards. Its sensors measure conditions such as pressure, temperature, position, moisture and vibration. Customers use these products in automotive systems, industrial equipment, communications networks, computing infrastructure, aerospace and other electronic applications. Revenue comes from sales of components and assemblies to business customers that incorporate them into larger products and systems. Amphenol offers both standard products and customized designs, with manufacturing and technical capabilities supporting customers across international markets.

CATL, headquartered in Ningde, Fujian Province, is a global leading battery manufacturer founded in 2011. The company specializes in the development and production of lithium-ion batteries for electric vehicle and energy storage systems. CATL is the largest EV battery manufacturer in the world and leads the industry in innovative battery technology development for higher-energy density and safety, longer battery service life, and super-fast charging. CATL is also involved in the manufacturing of cathode and other related battery materials. Through subsidiary Brunp, it works with customers to create a closed-loop battery life cycle from production, application, to recycling.

Schneider Electric is a French energy technology company headquartered in Rueil-Malmaison, near Paris, whose products cover electrification, automation and digitalisation for buildings, homes, data centers, infrastructure and industry. It sells electrical distribution equipment, switches and sockets, building and home automation, industrial control and process safety systems, grid automation, critical power and cooling for data centers, and energy management and industrial software, under brands including Square D, APC, AVEVA, Clipsal, Merlin Gerin, Telemecanique and Modicon. The company earns most of its revenue from product and system sales to distributors, panel builders, contractors, utilities, data-center operators and industrial customers. It reported revenue of 40.15 billion euros and net income of 4.35 billion euros for 2025 and employed about 177,000 people in 2024. Schneider Electric is registered as a Societas Europaea, trades on Euronext Paris as part of the CAC 40 and Euro Stoxx 50 indices, and is led by chief executive Olivier Blum and chairman Jean-Pascal Tricoire. Its history begins in 1836, when brothers Adolphe and Eugène Schneider took over an iron foundry in Le Creusot and founded Schneider-Creusot, a maker of steel, heavy machinery and transport equipment that later refocused on electrical equipment.

ABB is a Swiss-Swedish electrification and automation group headquartered in Zurich and incorporated in Switzerland as ABB Ltd. It was formed in 1988 by the merger of Sweden's ASEA, founded in 1883, and Switzerland's Brown, Boveri & Cie, founded in 1891, creating a group with about $15 billion of revenue and 160,000 employees at the time. Its roughly 20 divisions sit in four business areas: Electrification, Motion, Process Automation, and Robotics & Discrete Automation. It sells electrical distribution products such as circuit breakers, motors and drives, industrial robots and automation systems to industrial, utility, building and infrastructure customers. ABB sold its power grids business to Hitachi in 2020, spun off its turbocharging business in 2022, and in October 2025 agreed to sell its industrial robotics unit, with about 7,000 employees and $2.3 billion of 2024 revenue, to SoftBank Group for $5.4 billion. Major 21st-century acquisitions include Baldor Electric, Thomas & Betts and GE Industrial Solutions. The shares are listed on the SIX Swiss Exchange and Nasdaq Stockholm, and Morten Wierod has been chief executive since August 2024.

Founded in 1911 by Joseph Eaton, the eponymous company began by selling truck axles in New Jersey. Eaton has since become an industrial powerhouse largely through acquisitions in various end markets. Eaton’s portfolio can broadly be divided into two parts: its electrical and industrial businesses. Its electrical portfolio (representing around 70% of company revenue) sells components within data centers, utilities, and commercial and residential buildings, while its industrial business (30% of revenue) sells components within commercial and passenger vehicles and aircraft. Eaton receives favorable tax treatment as a domiciliary of Ireland, but it generates over half of its revenue within the US.

Equinix is a global digital-infrastructure company that develops and operates carrier-neutral data centres and interconnection services. Founded in Silicon Valley in 1998, it is headquartered in Redwood City, California, and is publicly listed on Nasdaq. Its International Business Exchange and xScale facilities give enterprises, cloud platforms, network operators, content providers and financial institutions places to deploy computing equipment and exchange data. Customers also use virtual networking, managed infrastructure, security and professional services to connect distributed applications across markets. Equinix earns recurring revenue primarily from colocation space, power, cross-connects and other subscription-like infrastructure services, supplemented by usage and service fees. Its platform spans hundreds of data centres across six continents and links customers to a large ecosystem of cloud and network providers. The company is structured as a real estate investment trust for United States federal income-tax purposes.

Delta Electronics (Thailand) PCL manufactures and distributes power supplies, electronic equipment, and components such as DC fans, EMI filters, solenoids, etc. The group's reportable segments are: Power electronics, Mobility, Infrastructure, Automation, and Others. The majority of its revenue is generated from the Power electronics segment, which designs, manufactures, and sells power supplies applied to computer, server, office automation equipment, and household electric appliances. The Mobility segment makes EV power systems, the Infrastructure segment builds ICT and energy systems, and the Automation segment offers industrial and building automation. Geographically, the group generates maximum revenue from the United States, followed by Singapore, Germany, Taiwan, and other markets.

NTT Group is the Japanese telecommunications and information technology group led by NTT, Inc., a holding company headquartered in Otemachi, Chiyoda, Tokyo and listed on the Tokyo Stock Exchange. The company traces its origins to Japan's state telegraph service; the government-owned Nippon Telegraph and Telephone Public Corporation was set up in 1952, privatised on 1 April 1985 as Nippon Telegraph and Telephone Corporation, and renamed NTT, Inc. on 1 July 2025. Its main subsidiaries are mobile operator NTT Docomo, which also sells broadband; NTT East and NTT West, the regional fixed-line and fibre-to-the-home operators; NTT Data, which provides system integration, IT consulting, cloud and managed services, cybersecurity and data centre infrastructure worldwide; plus NTT Urban Solutions and NTT Anode Energy. It serves consumers, businesses and public bodies, earning recurring fees for mobile and fixed communications services and project and service fees from its IT business. In fiscal 2025 (the year to March 2026) it reported revenue of ¥14.41 trillion and net income of ¥1.04 trillion, with about 347,700 employees, and it ranks among the world's largest telecommunications companies by revenue. Japan's Minister of Finance holds 34.25% of the shares. Akira Shimada is president and chief executive and Jun Sawada is chairman.

American Tower owns and operates about 150,000 wireless towers throughout the US, Asia, Latin America, Europe, and Africa. It also owns and/or operates 30 data centers in 11 US markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market generated by the top few mobile carriers. The company operates more than 40,000 towers in the US, which accounted for about half of total revenue in 2024. Outside the US, American Tower operates about 47,000 towers in Latin America (dominated by Brazil), 32,000 towers in Europe, and 27,000 towers in Africa. American Tower operates as a REIT.

Vertiv has roots tracing back to 1946 when its founder, Ralph Liebert, developed an air-cooling system for mainframe data rooms. As computers started making their way into commercial applications in 1965, Liebert developed one of the first computer room air conditioning, or CRAC, units, enabling the precise control of temperature and humidity. The firm has slowly expanded its data center portfolio through internal product development and the acquisition of thermal and power management products like condensers, busways, and switches. Vertiv has global operations today; its products can be found in data centers in most regions throughout the world.

LG Energy Solution is the third-largest battery maker for electric vehicles with about 11% global share in 2024, according to SNE Research. The EV battery segment is the largest revenue contributor, which accounted for more than 60% of total revenue in 2024. LGES also manufactures batteries for mobility, mobile phones, laptops, electrical devices, and energy storage systems. The company was spun off from LG Chem’s battery division in December 2020 and listed on the Korea Exchange in January 2022. It has global manufacturing facilities in Korea, China, Poland, and the United States. Key customers include General Motors, Tesla, Volkswagen, Hyundai, and Stellantis.

Bloom Energy is a San Jose-based energy-technology company founded in 2001. It designs and manufactures solid-oxide fuel-cell systems that generate electricity on site from natural gas, biogas or hydrogen without conventional combustion. Commercial and government customers use Bloom Energy Servers for resilient distributed power at data centres, industrial sites, campuses and other facilities. The company also develops electrolyser systems for hydrogen production and provides installation and long-term service support. Revenue comes from equipment and installation sales, electricity arrangements and recurring service contracts. Bloom was privately held when NZ Super Fund made its 2013 and 2014 investments and later became publicly listed, but the recorded transactions concern its private growth phase.

Digital Realty is a real estate investment trust that owns and operates carrier-neutral data centers, headquartered in Austin, Texas after relocating there in January 2021. It was established in 2004 by GI Partners, which contributed 21 data centers acquired in bankruptcy auctions, and it trades on the New York Stock Exchange as DLR and is a member of the S&P 500. In 2023 it operated over 300 facilities in more than 25 countries, and it reported revenue of US$4.69 billion in 2022 with about 3,450 employees. It earns rent and fees from colocation, interconnection and large-scale space leased to cloud providers, enterprises and carriers. Its large acquisitions include DuPont Fabros Technology in 2017, Ascenty in 2018 for US$1.8 billion, and Interxion, announced in October 2019 at a US$8.4 billion enterprise value and completed on 12 March 2020. Andrew Power is chief executive.

Mitsubishi Electric is a Tokyo diversified industrial manufacturer founded in 1921 and publicly listed in Japan. It designs and sells factory-automation equipment, power and energy systems, building systems, transportation products, automotive equipment, semiconductors, communications equipment and consumer appliances. Industrial companies, utilities, infrastructure operators, governments, commercial-building owners and households use its products. Revenue comes primarily from equipment and component sales, supported by installation, maintenance, engineering and other services. The group operates manufacturing, research, sales and service networks across Asia, Europe, the Americas and other regions. Its space and defence business supplies satellite, communications and related aerospace systems. Mitsubishi Electric also invests strategically where partnerships can expand technology and commercial access. It co-invested with COFIDES in PLD Space's 2026 Series C financing and was identified as a lead investor in that round.

Founded in 2004, Luxshare Precision is one of the world’s largest manufacturers of cables and connectors and is a major supplier to Apple, which accounts for over 50% of revenue. Of Luxshare’s 2025 sales, 80% is derived from the consumer electronics end market, while the remaining 20% is spread across the computer, communication, and automobile verticals. In nonconsumer businesses, Luxshare supplies cooling systems, optical interconnects, cables, power supplies, and other electric hardware. Luxshare employs almost 420,000 people. It has 105 manufacturing bases in 29 countries, with the largest clusters in China and Vietnam.

Fujikura is a Japanese wire, cable, and electronics manufacturer headquartered in Koto-ku, Tokyo, with four core segments. Telecommunications systems encompass optical fibers, cables, and components, and Fujikura was a pioneer in Japanese fiber-optic research. In 1985, it introduced the first fusion splicer to the market and now claims to hold the number-one market share globally. In its automotive products division, Fujikura makes wire harnesses. Power systems cover power cables, aluminum wires, and enameled wires, and electronics cover flexible printed circuits, wiring, and connectors. Fujikura operates globally, with 40% of revenue from domestic customers. Its wholly owned US subsidiary AFL manufactures and sells optical fiber cables and components for the North American market.

Carrier Global, spun out of United Technologies in 2020, manufactures and services commercial and residential HVAC systems and transportation refrigeration solutions under its flagship Carrier brand, as well as Bryant, Payne, Heil, and others across various price points. In 2024, Carrier acquired Viessmann Climate Solutions to expand its footprint in Europe with heat pumps, boilers, and solar PV equipment. Proceeds from the sale of Carrier’s fire and security (Honeywell) and commercial refrigeration (Haier) businesses reduced debt and focused the company on global HVAC and refrigeration solutions. Carrier generates 75% of sales from equipment and 25% from parts and services. The company derives 50% of revenue from the US, 30% from Europe, and 20% from the Asia-Pacific region.

NetApp Inc is a provider of enterprise data management and storage solutions. The company's segments include Hybrid Cloud and Public Cloud. It generates maximum revenue from the Hybrid Cloud segment. The Hybrid Cloud segment offers a portfolio of storage management and infrastructure solutions that help customers recast their traditional data centers with the power of the cloud. This portfolio is designed to operate with public clouds to unlock the potential of hybrid, multi-cloud operations. Hybrid Cloud is composed of software, hardware, and related support, as well as professional and other services. Geographically, the company generates the majority of its revenue from the United States, Canada and Latin America (Americas).

Sumitomo Electric Industries Ltd manufactures and sells electric wires and cables, and other products. The company operates through five segments. The Automotive related business covers wire harnesses, anti-vibration rubber, hoses, electrical parts, and traffic control systems. The Electronics related business provides electronic wires, flexible printed circuits, fluoropolymer products, and metal components. The Environment and Energy related business handles power transmission equipment, substation systems, vacuum and beam equipment, and conductive products. The Industrial Materials business includes steel wire, tools, optical components, and sintered parts. The Information and Communication business offers fiber optic cables, communication equipment, and optical devices.

WEG SA is a Brazilian electrical engineering and automation company listed on the B3 exchange and headquartered in Jaragua do Sul, Santa Catarina. It was founded on 16 September 1961 by Werner Ricardo Voigt, Eggon Joao da Silva and Geraldo Werninghaus, and its name is an acronym of their initials. The company makes electric motors, generators, transformers, drives, industrial automation and control products, gearboxes, switchgear, wind turbines, battery storage systems and coatings and varnishes. In 2025 its net revenue reached R$40.8 billion, of which 59 percent came from markets outside Brazil. It has grown through acquisitions across Europe, Asia, Africa and the Americas, the largest being the 2023 purchase of the industrial motors and generators business of Regal Rexnord for USD 400 million. Alberto Kuba serves as chief executive and Decio da Silva as chairman, and the company keeps a United States base in Duluth, Georgia.

Quanta Computer is a Taiwanese contract manufacturer of electronic hardware, headquartered in Taoyuan, that designs and builds products for global technology brands as an original design manufacturer (ODM). It is one of the world's largest makers of notebook computers, with an estimated 31% of worldwide notebook production in the first quarter of 2008, and it also builds servers, enterprise network systems, home entertainment, mobile communication and automotive electronics products. Quanta was chosen in 2005 as the manufacturer of the One Laptop per Child project's XO-1 laptop and in 2011 designed servers with Facebook as part of the Open Compute Project. It earns revenue from manufacturing contracts with brand owners and cloud operators. The company was founded in 1988 and is listed on the Taiwan Stock Exchange. It has also made strategic investments, including joining the US$56 million third funding round of InfiniBand chip developer Mellanox Technologies in 2002.

Legrand is a French manufacturer of electrical and digital building infrastructure headquartered in Limoges. Its operating business dates to 1904, while the current listed holding company was incorporated in December 1998. The group supplies wiring devices, electrical installation products, cable management systems, data and communications infrastructure, power-distribution equipment and building-control solutions. Its products are used in residential, commercial and industrial buildings, including data centers. Legrand sells manufactured products through electrical distributors and other channels serving installers and professional customers. The group expanded internationally through acquisitions of local and specialist manufacturers, adding product technologies and distribution positions. KKR and Wendel acquired the business from Schneider Electric, and Legrand returned to the stock market in 2006. KKR disposed of its remaining shares in March 2012 while Legrand continued as an independent listed operating group.

Prysmian SpA is an Italian manufacturer of electric power transmission and telecommunications cables and systems. Its business is organized in three segments--Projects, which focuses on the execution of underground and submarine cable projects; Energy Products, which provides power distribution, and industrial and network components; and Telecom, which makes cable systems and connectivity products. More than half of the firm's revenue is generated in the Europe, Middle East, and Africa regions, with the rest coming from North America, Latin America, and Asia-Pacific regions.

Yageo is a Taiwanese manufacturer of passive electronic components used in electronic circuits. Its products include resistors, capacitors and inductors that manage electrical signals, voltage and current in customer products. The business supplies electronics manufacturers and supply-chain customers across consumer electronics and industrial applications. It earns revenue from the manufacture and sale of physical electronic components. Yageo is listed on the Taiwan Stock Exchange, and its global depositary receipts were also traded in Luxembourg at the time of KKR’s investment. In June 2007 KKR acquired zero-coupon convertible instruments due in 2014, providing an investment exposure that could convert into newly issued common shares or depositary receipts. Counsel described the instruments as representing a potential 16.1 percent shareholding upon full conversion based on the then-current capital structure. The investment therefore initially involved convertible securities rather than an immediately completed acquisition of that percentage of ordinary shares.

Crown Castle owns or manages roughly 40,000 wireless towers in the United States. It leases space on its towers to wireless service providers, which install equipment to support their wireless networks. The company has a very concentrated customer base, with about 75% of its revenue from the Big Three US mobile carriers: Verizon, T-Mobile, and AT&T. Crown Castle has plans to divest its fiber business, which is expected to be finalized in the first half of 2026. After that, it will be a stand-alone tower operator. Crown Castle operates as a real estate investment trust.

Wus Printed Circuit (Kunshan) Co Ltd is a China-based company. It is principally engaged in the manufacture, distribution, and after-sales services of printed circuit boards (PCBs).

Ibiden Co Ltd is a provider of electronic and ceramic products. The company operates through three segments: Ceramic, Electron, and other. The Ceramic segment provides environment-related ceramics products, graphite and specialty products, ceramic fibre, and fine ceramics products. The Electron segment offers package substrates in computers, information technology infrastructure, mobile device wiring boards, mobile devices, and home appliances. The other segment includes the processing of agriculture, livestock, and fisheries, the sale of oil products, and synthetic resin production. It generates the majority of its revenue from the Electronic segment.

Samsung SDI is one of the top suppliers of lithium-ion rechargeable batteries, providing cylindrical batteries for consumer electronics products such as laptops, polymer rechargeable batteries for smartphones and tablets, and has been focusing its resources to establish its footprint on automotive rechargeable batteries. The company is the second-largest supplier of batteries for consumer electronics products, and the eighth player in automotive batteries. The company also offers electronic materials for semiconductors and flat-panel displays, making it an important internal supplier for Samsung Electronics.

Jabil Inc. is a U.S based company providing engineering, manufacturing, and supply chain solutions. It provides comprehensive electronics design, production, and product management services to companies in various industries and end markets. It operates through three segments: Regulated Industries, serving automotive, healthcare, and renewables; Intelligent Infrastructure, focused on AI, cloud, data centers, and communications, driving the majority of revenue; and Connected Living and Digital Commerce, specializing in digitalization and automation, such as robotics and warehouse automation. The company operates in the U.S., Mexico, China, Malaysia, Singapore, and several other markets.

NARI Technology Co Ltd is engaged in providing power & automation technologies in China. It operates in areas of power system automation, smart grid, renewable energy, railway automation, industrial control, & energy conservation & environment protection.

PT DCI Indonesia Tbk is a data center provider in Indonesia. It provides reliable, well networked, and well-managed cloud and carrier-neutral data center infrastructure services in Indonesia. The company operates in two segments: Colocation services and Others. The services offered by the company include Colocation, Cross Connect, Flexspace, Smarthands, CloudConnect, and DCI Internet Exchange.

Founded in 1888 by Harvey Hubbell, the eponymous company was the conduit through which the pull-chain lamp socket was originally sold. Hubbell has since grown into an electricity transmission and distribution behemoth, housing more than 75 brands that sell components found on power lines, in electrical substations, and in commercial and industrial buildings. The company's primary operations are in the United States, where around 90% of revenue is derived.

China-based Sungrow manufactures and sells power supply equipment for the new energy industry. It offers a wide range of products, including solar inverters, energy storage systems, wind power converters, electric vehicle drives, among others. It is one of the largest suppliers of solar inverters and energy storage systems globally. It is also one of the largest new energy project developers in the world. Solar inverters, energy storage systems, and new energy investment and development segment each accounted for 37%, 32%, and 27% of revenue in 2024, respectively.

NVent is a leading global provider of electrical connection and protection solutions that touch a broad range of end markets, including infrastructure, industrial, commercial, and residential. NVent designs, manufactures, markets, installs, and services a portfolio of electrical enclosures and electrical fastening solutions. North America accounts for the majority of sales.

Super Micro Computer Inc provides high-performance server technology services to cloud computing, data centers, high-performance computing, and the Internet of Things embedded markets. Its solutions include servers, storage systems, modular blade servers, workstations, full-rack scale solutions, networking devices, server sub-systems, and server management. These turn-key solutions are designed, developed, validated, and installed for AI datacenters. The company has one operating segment that develops and provides high-performance server solutions based upon a, modular and open-standard architecture. More than half of the firm's revenue is generated in the United States, with the rest coming from Europe, Asia, and other regions.

Lasertec is a Japan-based manufacturer of mask inspection equipment used to identify defects in photomasks, which are a key component in lithography during front-end semiconductor manufacturing. Lasertec is the largest player in the mask inspection industry, with a global market share of 49% as of 2025. The company also has a dominant position in actinic mask inspection, a type of advanced inspection process required for photomasks that is used in cutting-edge EUV and high-NA EUV lithography, with over a 90% global market share. Lasertec’s main customers include foundry and memory leaders such as TSMC, Intel, and Samsung Electronics.

China Unicom is the incumbent fixed-line operator in 10 northern Chinese provinces, as well as the third-largest wireless operator nationwide. As of June 2025, it had around 355 million billing wireless customers and over 125 million fixed-line subscribers. China Unicom also has a growing ICT business. We estimate it has the third largest internet data center business in China with 420,000 cabinets and its Cloud Service revenue is also showing strong growth. It has its own 4G network and shares the radio access function with China Telecom for its 5G network.

Inovance is a leading Chinese industrial automation and new energy parts supplier. It offers a wide array of industry automation products such as variable frequency drives, servo systems, program logic controllers, and industrial robots. It also supplies electric drive and power supply systems for new energy vehicles. Inovance generates more than 90% of its revenue from China.

Woodward Inc is an independent designer, manufacturer, and service provider of control solutions for the aerospace and industrial markets. It designs, produces, and services reliable, efficient, low-emission, and high-performance energy control products for diverse applications in challenging environments. The company operates in two segments, Aerospace and Industrial. The Aerospace segment provides fuel pumps, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, and flight deck controls, actuators, servo controls, motors, and sensors for aircraft. The Industrial segment offers actuators, valves, pumps, fuel injection systems, solenoids, ignition systems, speed controls, electronics and software, and sensors.

SBA Communications owns a portfolio of about 45,000 wireless towers throughout North America, South America, and Africa. It leases space on its towers to wireless service providers, who install equipment to support their wireless networks. The company has a very concentrated customer base, with most revenue in each market being generated by the top few mobile carriers. It owns more than 17,000 towers in the US, which account for about 75% of leasing revenue. Internationally, SBA’s largest presence is in Brazil, where it owns roughly 10,000 towers. SBA operates as a real estate investment trust.

Cellnex owns and operates more than 100,000 wireless towers in Europe, the result of continued merger and acquisition activity since its initial public offering in 2015. It has acquired towers from several European mobile network operators, including Telefonica, Iliad, CK Hutchison, Bouygues, and Altice. Cellnex is present in France, Italy, Spain, Poland, and the United Kingdom, among others.

Samvardhana Motherson International Ltd is a manufacturer of automotive wiring harnesses and plastic components and modules. The products include wiring harnesses, mirrors for passenger cars, injection molded products, modules including dashboards, door trims, bumpers, blow moulded components, liquid silicone rubber molded components, injection molding tools, extruded rubber products, precision machined metal components, and others. The company has five reportable segments such as Wiring Harness, Modules and polymer products, Integrated Assemblies, Vision systems and Emerging businesses. It derives majority of the revenue from Modules and polymer products segment which is engaged in manufacturing and supplies of plastic parts and system modules for vehicle interiors and exteriors.

Zhen Ding Technology Holding Ltd manufactures printed circuit boards, including high-density interconnection, flexible printed circuits, rigid printed circuit boards, and integrated circuit substrates. These products are used in a variety of applications, including personal computers, watches, memory and data cards, smartphones, tablets, media players, televisions, digital and video cameras, and game consoles. The company's customers include the telecommunications, electronics, automotive, medical equipment, military equipment, and space industries. The company generates all of its revenue from the manufacturing of PCB products of which key revenue is derived from the USA region followed by mainland China and others.

EVE Energy Co Ltd is a China-based enterprise mainly engaged in the research, manufacturing, and sale of consumer batteries, power batteries, and energy storage batteries. Its consumer battery portfolio includes lithium primary cells, compact lithium-ion batteries, and cylindrical batteries, applied in both consumer and industrial sectors such as smart metering, smart home devices, automotive electronics, and more. The company’s power batteries consist of products and systems for new energy passenger vehicles, serving applications in passenger cars, commercial vehicles, engineering machinery, and related fields. Its energy storage batteries are utilized in power, industrial, and commercial energy storage solutions, among other applications.

ABB India Ltd enables a more sustainable and resource-efficient future with the technology leadership in electrification and automation. It energizes the transformation of society and industry to achieve a more productive, and sustainable by connecting software to its electrification, robotics, automation, and motion portfolio. The company's revenue is split between its four operating segments: Robotics and Discrete Automation, Electrification, Motion, and Process Automation. The company has several manufacturing sites located in India, and the majority of its revenue is generated in India.