BorgWarner Inc. has completed its acquisition of the Electric Hybrid Systems business segment of Eldor Corporation. The company said the acquisition complements its ePropulsion portfolio, especially as it relates to expansion in high-voltage power electronics beyond the inverter.
“We are pleased to complete the acquisition and welcome Eldor’s talented employees to BorgWarner,” said Frédéric Lissalde, president and CEO of BorgWarner.
The company announced its intent to acquire Electric Hybrid Systems, for €75 million ($81.7 million) at closing with a potential additional amount due subject to an earnout, in June.
Headquartered in Italy, Eldor’s EHS segment includes on-board chargers (OBCs), DC/DC converters and integrated high voltage boxes, all of which are expected to complement BorgWarner’s existing product portfolio. The acquisition is expected to enhance BorgWarner’s capabilities in engineering compact and efficient 400V and 800V on-board chargers that are compatible with the variety of regional grid configurations found globally while also bringing innovative and cost-effective high-frequency DC/DC converter technology to the portfolio. BorgWarner said it expects that Eldor’s EHS business will generate €25 million ($27 million) of revenue for the full year 2023. Relative to its Charging Forward 2027 targets, BorgWarner expects that revenues will be approximately €250 million ($272 million) in 2027.
