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  6. Nikola Acquires Romeo Power

M&A Deal Summary

Nikola Acquires Romeo Power

On August 1, 2022, Nikola acquired automotive company Romeo Power for 144M USD

Acquisition Highlights
  • This is Nikola’s 1st transaction in the Automotive sector.
  • This is Nikola’s largest (disclosed) transaction.
  • This is Nikola’s 1st transaction in the United States.
  • This is Nikola’s 1st transaction in California.

M&A Deal Summary
Date 2022-08-01
Target Romeo Power
Sector Automotive
Buyer(s) Nikola
Deal Type Add-on Acquisition
Deal Value 144M USD
Advisor(s) Morgan Stanley (Financial)
Latham & Watkins (Legal)

Target

Romeo Power

Vernon, California, United States
Romeo Power is an energy technology company delivering advanced electrification solutions for complex commercial vehicle applications. Romeo Power’s suite of advanced battery electric products, combined with its innovative battery management system, delivers the safety, performance, reliability, and reconfigurability its customers need to succeed. Romeo Power was founded in 2016 and is based in Vernon, California.

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Buyer(S) 1

Buyer

Nikola

Phoenix, Arizona, United States
Category Company
Founded 2015
Sector Automotive
Employees870
Revenue 36M USD (2023)
DESCRIPTION

Nikola designs and manufactures sophisticated electric land and sea power sports vehicles. Nikola was formed in 2015 and is based in Phoenix, Arizona.

DEAL STATS #
Overall 1 of 1
Sector: Automotive M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2022 M&A 1 of 1
Size (of disclosed) 1 of 1
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