M&A Deal Summary

Volvo Acquires Proterra - battery business

On February 1, 2024, Volvo acquired electrical equipment company Proterra - battery business from Proterra for 210M USD

Acquisition Highlights
  • This is Volvo’s 2nd transaction in the Electrical Equipment sector.
  • This is Volvo’s 2nd largest (disclosed) transaction.
  • This is Volvo’s 1st transaction in the United States.
  • This is Volvo’s 1st transaction in California.

M&A Deal Summary
Date 2024-02-01
Target Proterra - battery business
Sector Electrical Equipment
Buyer(s) Volvo
Sellers(s) Proterra
Deal Type Divestiture
Deal Value 210M USD

Target

Proterra - battery business

Burlingame, California, United States
Proterra's battery business is a manufacturer of batteries which are designed from the cell level up for commercial and industrial usage and have industry-leading energy density, a flexible design, and ruggedized commercial-grade housing.

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Buyer(S) 1

Buyer

Volvo

Gothenburg, Sweden
Category Company
Founded 1915
Sector Manufacturing
Employees91,265
Revenue 552.8B SEK (2023)
DESCRIPTION

Volvo is a Swedish 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 3 of 3
Sector (Electrical Equipment) 2 of 2
Type (Divestiture) 2 of 2
State (California) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-26 Designwerk

Winterthur, Switzerland

Designwerk offers customized electric trucks under the brand Futuricum, mobile rapid chargers and high voltage battery systems. The company is an innovative company that works in fast feedback loops in development with customers to constantly improve their offering. Designwerk Technologiesis based in Winterthur, Switzerland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-02 Arquus

Versailles, France

Arquus specializes in the production and support of land defense vehicles. Arquus is based in Versailles, France.

Sell -

Seller(S) 1

SELLER

Proterra

Burlingame, California, United States
Category Company
Sector Electrical Equipment
DESCRIPTION

Proterra is a provider of powered battery technology which is already powering commercial vehicles and equipment from world-class manufacturers, helping operators reduce emissions while lowering operating costs. Proterra also offers a turn-key approach to delivering the complete energy ecosystem for commercial electric vehicles. In addition to high-power charging systems, Proterra Energy fleet solutions include charging infrastructure design, build, financing, operations, maintenance, and energy optimization. Proterra is based in Burlingame, California.

DEAL STATS #
Overall 1 of 1
Sector (Electrical Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
Mergr

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