BorgWarner, an Auburn Hills-based automotive supplier, today announced the acquisition of Sevcon Inc., a global electrification technologies company.
With the transaction, Sevcon supplements BorgWarner’s power electronics capabilities used to provide electrified propulsion solutions.
“This acquisition supports our existing strategy to supply leading technology for all types of propulsion systems; combustion, hybrid, and electric,” says James Verrier, president and CEO of BorgWarner. “We look forward to welcoming Sevcon’s talented employees to BorgWarner.”
Sevcon’s products include high and low voltage controllers, DC/DC converters, battery charges, and custom-made accessories for on and off road, marine, and construction equipment.
The company’s annual sales for 2017 are expected to be approximately $60 million. Throughout its 40-year history, Sevcon has served more than 2,000 customers, traditionally selling its products in the U.S. and Europe.
The acquisition is expected to be “modestly dilutive” to earnings in 2018. BorgWarner announced an agreement to acquire Sevcon in July.