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Automotive supplier Webasto is divesting its Charging solutions business to Transom Capital Group, a deal that sees Webasto remain a minority shareholder. The two companies announced the agreement on February 7, 2024, with Transom to take a majority stake.
The move allows Webasto to focus on its core business areas in the automotive industry. The German company has made substantial investments in vehicle electrification in recent years.
See also: Webasto Launches the Webasto Go Charger in the US and Canada
“I am pleased that we have gained a partner that will continue the success story of our Charging solutions business while continuing to offer development opportunities to the many highly qualified colleagues who are part of the business,” said Webasto Chief Technology Officer Marcel Bartling.
Transom Capital Group sees the investment as an opportunity to capitalize on the rapid growth of the electric vehicle charging market.
“It is a rare opportunity that we can invest in a business of significant scale, in an underlying market that is on a historic hockey stick growth curve,” said Russ Roenick, Founder and Managing Partner at Transom Capital Group. “Charging is at the forefront of the global transition toward electric vehicles and we are super excited to partner with Webasto to continue to grow the Charging solutions business.”
The plan is for the Charging solutions unit to retain existing sites in Planegg, Germany; Monrovia, USA; and Guanajuato, Mexico.
About Webasto
Webasto is a global systems partner to the automotive industry and ranks among the top 100 suppliers worldwide. The company’s product portfolio includes roof systems, vehicle electrification solutions, high-voltage heaters, batteries, and thermo management systems. Webasto generated over 4 billion euros in sales in 2022.
About Transom
Transom Capital Group is a middle-market private equity firm. It focuses on partnering with established companies to drive transformative growth through operational improvements, top-line expansion, and strategic changes.
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