M&A Deal Summary

Volvo Acquires NOVO R&D

On July 1, 2025, Volvo acquired electrical equipment company NOVO R&D from NOVO

Acquisition Highlights
  • This is Volvo’s 3rd transaction in the Electrical Equipment sector.
  • This is Volvo’s 1st transaction in Sweden.

M&A Deal Summary

Date 2025-07-01
Target NOVO R&D
Sector Electrical Equipment
Buyer(s) Volvo
Sellers(s) NOVO
Deal Type Divestiture

Target

NOVO R&D

Gothenburg, Sweden
NOVO R&D specializes in battery cell chemistry and materials research, offering advanced research capabilities supporting the development of sustainable transport solutions, particularly for electric vehicles. NOVO R&D is based in Gothenburg, Sweden.

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Buyer(S) 1

Buyer

Volvo

Gothenburg, Sweden

Category Company
Founded 1915
Sector Manufacturing
Employees91,154
Revenue 526.8B SEK (2024)
DESCRIPTION

Volvo is a multinational manufacturing company. Volvo's principal activity is the production of trucks, buses, and construction equipment. Volvo also supplies marine and industrial drive systems. Volvo was incorporated in 1915 and is based in Gothenburg, Sweden.


DEAL STATS #
Overall 4 of 4
Sector: Electrical Equipment M&A 3 of 3
Type: Divestiture M&A Deals 3 of 3
Country: Sweden M&A 1 of 1
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-02 Commercial Vehicle Group - Cab Structures Business

Kings Mountain, North Carolina, United States

Commercial Vehicle Group's Cab Structures Business provides critical structural components for commercial vehicles. Commercial Vehicle Group's Cab Structures Business is based in Kings Mountain, North Carolina.

Sell $40M

Seller(S) 1

SELLER

NOVO

Gothenburg, Sweden

Category Company
Sector Electrical Equipment
DESCRIPTION

NOVO is a battery development and manufacturing company that specializes in producing sustainable lithium-ion batteries for electric vehicles. NOVO is based in Gothenburg, Sweden.


DEAL STATS #
Overall 1 of 1
Sector: Electrical Equipment M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: Sweden M&A 1 of 1
Year: 2025 M&A 1 of 1