Webasto Group, a Germany-based automotive industry supplier, is acquiring the efficient energy systems (EES) business of California-based AeroVironment, a provider of electric vehicle (EV) charging and test systems, unmanned aircraft systems, and tactical missile systems.
Webasto is acquiring the EES segment for $35 million, subject to customary post-closing adjustments and indemnification agreements. Webasto will retain all existing EES employees while strengthening its long-term e-mobility strategy.
“This strategic acquisition accelerates the global development of our charging business,” states Holger Engelmann, chairman of the management board of Webasto SE. “Combining EES’ fundamental know-how in electric vehicle technology with our position as a global systems partner to almost all OEMs emphasizes the long-term strategic development of the Webasto Group.”
With this strategy, Webasto says it strengthens its existing core business areas in sunroofs, convertibles and thermo systems and participates in new business areas, focusing on battery systems and plug-in EV charging solutions.
“We conducted a very robust process in which we identified a number of potential strategic acquirers for our EES business. We found Webasto’s e-mobility strategy to be highly aligned with that of EES and our respective capabilities to be highly complementary serving our end markets,” says Wahid Nawabi, CEO of AeroEnvironment.