Motorcar Parts of America, Inc. (announced it 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. 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,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc.
“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,” said William J. Hardy, chief executive officer 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.
“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,” said Dave Eddy, president and co-founder of E&M Power.