Motorcar Parts of America Inc. has acquired D&V Electronics, an Ontario, Canada-based company, in a stock purchase transaction. Terms were not disclosed.
“The acquisition of D&V Electronics enhances Motorcar Parts of America’s ongoing commitment to innovation, quality and industry leadership. D&V Electronics’ innovative engineering team and world-renowned customer base, along with its advanced technology provide a platform to test alternators and starters, as well as the increasing electrification of vehicles and their components. We look forward to supporting D&V Electronics to enhance its significant research and development capabilities and expand its market position and product portfolio to capitalize on future growth opportunities,” said Selwyn Joffe, chairman, president and CEO of Motorcar Parts of America Inc.
“This is a very exciting time for D&V, as the investment will allow D&V to build on the legacy of our founder Dr. Voiko Loukanov and his vision of building world-class testing systems. We look forward to providing our clients with additional insight into the rapidly changing field of vehicle electrification,” said Kalina Loukanov, executive director of D&V Electronics.
Industry sources estimate the global automotive testing market is approximately $5.4 billion per annum, enhanced by the ever-increasing complexity of automotive systems.
