BorgWarner to acquire Eldor’s EHS business segment for EUR 75M

BorgWarner and Eldor Corporation S.p.A. announced that they have entered into a Share Purchase Agreement under which BorgWarner has agreed to acquire the Electric Hybrid Systems, or EHS, business segment of Eldor for EUR 75M at closing with a potential additional amount due subject to an earnout. Headquartered in Italy, Eldor’s EHS segment includes on-board chargers, DC/DC converters, and integrated high voltage boxes, all of which are expected to complement BorgWarner’s existing product portfolio. The acquisition is expected to enhance BorgWarner’s capabilities in engineering compact and efficient 400V and 800V on-board chargers that are compatible with the variety of regional grid configurations found globally while also bringing innovative and cost-effective high-frequency DC/DC converter technology to the portfolio. BorgWarner expects that Eldor’s EHS business will generate EUR 25M of revenue for the full year 2023. Relative to its Charging Forward 2027 targets, BorgWarner expects that revenues will be approximately EUR 250M in 2027. The transaction is subject to satisfaction of closing conditions and is expected to close in the third quarter of 2023.