The automotive supplier BorgWarner has acquired the Switzerland-based Drivetek. The transaction has an enterprise value of up to CHF 35 million, of which CHF 25 million was delivered at closing. An additional CHF 10 million could be paid in the form of contingent payments over the next 3 years. With the acquisition, BorgWarner grows its power electronics capabilities in auxiliary inverters.
Dirvetek is offering engineering and product development services for inverters, electric drive solutions and power electronics as well as products that include specialized inverters for high-speed electrified turbomachinery. The Swiss company supports customers in the automotive and transportation industry as well as in the aviation, industrial and energy sectors.
Lenz & Staehelin has advised the selling shareholders of drivetek. The team included partners Simone Ehrsam and Tino Gaberthüel (both corporate and m&a and pictured) as well as associates Xavier Grivel (corporate and m&a) and Lukas Aebi (tax).