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  5. BorgWarner Acquires SSE - Electric Vehicle Solution Smart Grid and Smart Energy Businesses

M&A Deal Summary

BorgWarner Acquires SSE - Electric Vehicle Solution Smart Grid and Smart Energy Businesses

On September 20, 2022, BorgWarner acquired electrical equipment company SSE - Electric Vehicle Solution Smart Grid and Smart Energy Businesses from Hubei Surpass Sun Electric for 410M CNY

Acquisition Highlights
  • This is BorgWarner’s 4th transaction in the Electrical Equipment sector.
  • This is BorgWarner’s 8th largest (disclosed) transaction.
  • This is BorgWarner’s 2nd transaction in China.

M&A Deal Summary
Date 2022-09-20
Target SSE - Electric Vehicle Solution Smart Grid and Smart Energy Businesses
Sector Electrical Equipment
Buyer(s) BorgWarner
Sellers(s) Hubei Surpass Sun Electric
Deal Type Divestiture
Deal Value 410M CNY

Target

SSE - Electric Vehicle Solution Smart Grid and Smart Energy Businesses

Xiangyang, China
SSE's Electric Vehicle Solution, Smart Grid and Smart Energy Businesses supplies patented electric vehicle charging solutions to customers in China and more than 70 other countries. SSE has delivered over 50,000 charging points and has led the engineering, procurement, and construction (EPC) of more than 250 charging station sites.

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Buyer(S) 1

Buyer

BorgWarner

Auburn Hills, Michigan, United States
Category Company
Founded 1987
Sector Automotive
Employees38,300
Revenue 14.1B USD (2024)
DESCRIPTION
BorgWarner's corporate headquarters in Auburn Hills, Michigan.
BorgWarner's corporate headquarters in Auburn Hills, Michigan.

BorgWarner is a global supplier of highly engineered automotive systems and components primarily for powertrain applications. The Company's products help improve vehicle performance, fuel efficiency, stability and air quality. These products are manufactured and sold worldwide, primarily to original equipment manufacturers of light vehicles, vans and light trucks. BorgWarner was founded in 1987 and is based in Auburn Hills, Michigan.

DEAL STATS #
Overall 15 of 17
Sector (Electrical Equipment) 4 of 6
Type (Divestiture) 3 of 4
Country (China) 2 of 2
Year (2022) 3 of 4
Size (of disclosed) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-03 Rhombus Energy Solutions

San Diego, California, United States

Rhombus Energy Solutions is a manufacturer of high-efficiency power conversion and energy management systems for energy storage, alternative energy, vehicle charging, micro-grid, and test equipment applications. Rhombus Energy Solutions was formed in 2012 and is based in San Diego, California.

Buy $185M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-02 Drivetek

Brügg, Switzerland

Drivetek offers engineering and product development services for inverters, electric drive solutions, and power electronics as well as a line of products that include specialized inverters for high-speed electrified turbomachinery. Drivetek is based in Brügg, Switzerland.

Buy -

Seller(S) 1

SELLER

Hubei Surpass Sun Electric

Xiangyang, China
Category Company
Founded 1997
Sector Electrical Equipment
DESCRIPTION

Hubei Surpass Sun Electric develops an ecological synergy system of multi-energy complementary system, smart power system and energy internet. The company core businesses are: EV charging and power system, power quality optimization, energy storage and hybrid system solution. Hubei Surpass Sun Electric was founded in 1997 and is based in Hubei, China.

DEAL STATS #
Overall 1 of 1
Sector (Electrical Equipment) 1 of 1
Type (Divestiture) 1 of 1
Country (China) 1 of 1
Year (2022) 1 of 1
Mergr

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