04.04.2018
Voltabox AG DE000A2E4LE9
DGAP-News: Voltabox takes first step of M&A growth strategy with acquisition of engineering services provider Concurrent Design
DGAP-News: Voltabox AG / Key word(s): Miscellaneous
Voltabox takes first step of M&A growth strategy with acquisition of
engineering services provider Concurrent Design
04.04.2018 / 08:00
The issuer is solely responsible for the content of this announcement.
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Voltabox takes first step of M&A growth strategy with acquisition of
engineering services provider Concurrent Design
- Complete acquisition of the U.S. engineering services provider Concurrent
Design, Inc. with more than 20 highly skilled employees
- The acquisition significantly increases development capacities and
supports Voltabox's dynamic growth strategy in the North American market
- The takeover represents the first step of the clear M&A growth strategy;
further acquisitions are being planned
Delbrück, Germany, April 04, 2018 - Voltabox AG [ISIN DE000A2E4LE9] acquires
the engineering company Concurrent Design, based in Austin, Texas, with
immediate effect. The acquisition significantly increases Voltabox's
development capacities. In addition, management expects additional valuable
expertise that will further strengthen the company's technological
leadership in the development and production of safe and economic
lithium-ion battery systems. Negotiations for further acquisitions within
the scope of the clearly defined growth strategy are already at an advanced
stage.
With Concurrent Design, Inc., which has been directly integrated into the
structures at the site of Voltabox of Texas, Inc., the Group is gaining
proven and long-standing expertise in research and development. Concurrent
Design has more than 20 employees, mostly designers and software developers,
so the company consequently has special expertise in manufacturing and
testing automation. Voltabox has thereby significantly expanded its
development capacities and range of skills at the Austin site.
"Concurrent Design's extensive technical expertise is perfect for Voltabox.
Concurrent Design has successfully completed more than 1,700 projects in the
fields of renewable energy, medical technology, semiconductors and
electronics, among others. With the acquisition, we are expanding our
position as the leading supplier in the development and production of
lithium-ion battery systems. The integration of Concurrent Design is a
logical step against the background of our current and future growth," said
Jürgen Pampel, CEO of Voltabox AG. "The Concurrent Design team has
tremendous experience in production design, industrial solution development,
test equipment development and design analysis," emphasized Rick Herndon,
CEO of Voltabox of Texas, Inc.
The acquisition of Concurrent Design, Inc. strengthens Voltabox AG's core
business Voltapower. It is the first acquisition for the company in this
field since its successful IPO. First and foremost, the targeted expansion
of R&D capabilities is paramount in order to be able to realize future
project orders for complex and high-performance battery systems in various
end markets in parallel. The development of battery systems for underground
mining is currently a focus for Voltabox in the North American market. The
company will therefore initially use the newly acquired resources to process
the large order backlog from the customer Komatsu Mining Corp. more quickly.
As a result, the Management Board anticipates significantly higher sales
growth in the next year than originally planned.
Voltabox is confident that it will soon be able to conclude further
value-adding acquisitions in Germany and the USA. The developer and
manufacturer of electromobility solutions based on modern lithium-ion
technology promises that the acquisitions will provide a significant boost
for the company's three operating segments - Voltapower, Voltaforce and
Voltamotion.
About Voltabox AG
Voltabox is a high-growth e-mobility system provider for industrial
applications. Its core business lies in intrinsically safe, highly developed
high-performance lithium-ion batteries that are modular and in serial
production. The battery systems are used in buses for public transportation,
forklifts, automated guided vehicles and mining vehicles. The company also
develops and produces high-quality lithium-ion batteries for selected mass
market applications, such as high performance motorcycles. Voltabox has
production sites at its headquarters in Delbrück, Germany, and in Austin,
Texas, as well as a development site in Aachen, Germany. Additional
information about Voltabox can be found at www.voltabox.ag/en/.
Financial Press & Investor Relations Contact
Voltabox AG
Dr. Kai Holtmann
Artegastraße 1
D-33129 Delbrueck
Phone: +49 (0) 52 50 - 99 30-964
Fax: +49 (0) 52 50 - 99 30-901
E-Mail: [email protected]
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04.04.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Voltabox AG
Artegastraße 1
33129 Delbrück
Germany
Phone: +49 (0)5250 9930 964
Fax: +49 (0)5250 9930 901
E-mail: [email protected]
Internet: www.voltabox.ag
ISIN: DE000A2E4LE9
WKN: A2E4LE
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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