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BorgWarner to Buy Electrification Specialist
BorgWarner Inc. has agreed to acquire Sevcon Inc., a Southborough, Mass.-based supplier of electric power system controllers, converters and battery chargers.
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BorgWarner Inc. has agreed to acquire Sevcon Inc., a Southborough, Mass.-based supplier of electric power system controllers, converters and battery chargers.
The deal, which is valued at about $200 million, is expected to close by year-end. BorgWarner says the acquisition supports its strategy to supply power electronics for a variety of propulsion systems.
Formed in 1961, Sevcon reported sales of nearly $50 million for the fiscal year ending last Sept. 30. The company acquired Italy’s Bassi, which specializes in battery chargers for electric vehicles, in early 2016.
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