BorgWarner Completes Acquisition of Sevcon
BorgWarner finalized its acquisition of Sevcon Inc., a manufacturer of electrification technologies that complement its own power electronics capabilities.
Sevcon’s annual sales for 2017 are expected to be about $60 million, and the acquisition is expected to be modestly dilutive to earnings in 2018, according to Auburn Hills, Mich.-based BorgWarner.
“This acquisition supports our existing strategy to supply leading technology for all types of propulsion systems; combustion, hybrid and electric,” James Verrier, CEO of BorgWarner, said in a statement. “We look forward to welcoming Sevcon’s talented employees to BorgWarner.”
The company announced an agreement to acquire Sevcon on July 17 and completed the acquisition on Sept. 27.
BorgWarner makes components for combustion, hybrid and electric vehicles, including exhaust gas management systems, electric drives, starters and alternators for commercial vehicles.
