EV Technology Group to acquire UK-based Tier 1 supplier Fablink Group

At present, Fablink Group counts leading OEMs in the automotive space including CAT, CNH, DAF, JLR, JCB, Mecalac, Moke, Morgan, Nifty-Lift and Perkins among others.

EV Technology Group to acquire UK-based Tier 1 supplier Fablink Group

UK-headquartered Fablink Group, a leading specialist manufacturing expert and tier 1 supplier has signed a definitive agreement to be acquired by EV Technology Group.

The acquisition is said to be strategically important for the rapidly growing EV Technology Group, which will now get access to Fablink’s in-house manufacturing and engineering expertise. Fablink is leading tier 1 supplier to the automotive, transport and off-highway sectors, counting global OEMs in its customer base.

Fablink Group also encompasses Streamline Automotive, a new division that provides specialist low- and medium-volume electric vehicle manufacturers with turnkey clean build vehicle assembly capabilities. It is already the manufacturing partner of Moke International, a company that recently agreed to join EV Technology Group’s house of brands, and recently launched the Electric Moke.

As per the understanding, Richard Westley, CEO, and Founder, Fablink Group will remain in his current position in the new structure and will also join the EV Technology Group board as Chief Operating Officer (COO) upon completion of the acquisition. Fablink will also retain its current leadership team, facilities and all of its 750+ strong workforce.

“There’s no doubt that EV Technology Group’s acquisition of Fablink is a fantastic fit. This acquisition not only presents a superb blend of resources and capabilities, aligned to underpin EV Technology Group’s growth plans but also gives Fablink Group a platform for future investment in our people, facilities and technology. The acquisition will allow us to accelerate the delivery of our strategies in support of our existing global OEM customers, as we continue on our mission of achieving operational excellence across our manufacturing sites and also provide a platform to further develop the business as we look to support EV Technology Group’s own brands. This is a tremendously exciting step for Fablink and we are looking forward to an even brighter future as part of a larger group,” said Westley.

Wouter Witvoet, CEO, EV Technology Group said, “This acquisition is of huge strategic importance to the EV Technology Group. Having access to Fablink’s 750 world-class electric vehicle manufacturing and engineering experts in-house makes us more competitive, efficient, and agile for Fablink’s existing customers and our own future projects. On a personal note, I am also looking forward to working closely with Fablink’s founder and CEO Richard Westley who has built a remarkable world-leading business and will also be joining me at EV Technology Group to help steer the future success and growth of the entire group.”

At present, Fablink Group counts leading OEMs in the automotive space including CAT, CNH, DAF, JLR, JCB, Mecalac, Moke, Morgan, Nifty-Lift and Perkins among others.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Photos