BorgWarner Inc. and Eldor Corporation have announced that they have entered into a Share Purchase Agreement under which BorgWarner has agreed to acquire the Electric Hybrid Systems (EHS) business segment of Eldor.
The deal is valued at €75 million at closing with a potential additional amount due subject to an earnout.
Headquartered in Italy, Eldor’s EHS segment includes on-board chargers (OBCs), 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 grid configurations found.
The transaction is subject to satisfaction of closing conditions and is expected to close in the third quarter of 2023.
