Motorcar Parts of America (MPA) has acquired Binghamton, New York-based E&M Power in an asset purchase transaction. Terms were not disclosed.
“The acquisition of E&M Power complements the industry position of D&V Electronics, our wholly owned subsidiary, and expands its electric vehicle powertrain portfolio,” said Selwyn Joffe, chairman, president and CEO of Motorcar Parts of America. “In addition, the acquisition provides entry into the aerospace market through E&M’s unique technology and its key customer relationships. The increasing complexity and development of electric powertrain systems are important catalysts for growth, and this acquisition further establishes us as a leader in this market.”
“E&M’s advanced power emulators for hybrid and electric vehicle motor development and its DC emulator capabilities for microgrid and energy storage greatly enhance our market position – providing highly respected technology, operational synergies and future growth opportunities,” added William Hardy, CEO of D&V Electronics.
Industry sources estimate the global automotive powertrain testing market is approximately $11.7 billion per annum, enhanced by the ever-increasing complexity of automotive systems, and the global active load emulator and DC emulator market is estimated to be $250 million, and growing.
Dave Eddy, president and co-founder of E&M Power, commented on the synergistic opportunities this partnership will bring in the aerospace industry. “We look forward to exciting sales synergies as we combine the unique technologies of E&M Power and D&V Electronics, which target the same key customers in the automotive industry. In addition, our combined technologies will offer exciting expansion opportunities in the aerospace industry,” he said.