The Hechinger group has acquired 100% stake in electric drive company Molabo.
Molabo will continue to operate as an independent company and is set to further expand the development of its technology and marine products.
The acquisition is set to further advance both companies in the e-mobility industry.
Molabo was founded in 2016 and has developed to manufacture touch-safe high-performance drives that do not require complex high-voltage safety measures, even at outputs of 50kW.
The Hechinger Group has been an investor in Molabo since 2019 and has since taken over the production and quality assurance of the drives.
The family-owned company with 70 years of experience has developed from a manufacturer of magnet systems and electronic assemblies into an internationally active technology company.
The Group is currently making substantial investments in the areas of e-mobility and renewables and says the acquisition of Molabo reflects its vision of proactively driving forward the mobility and energy transition worldwide.
“This takeover is far more than just a business transaction,” said COO Adrian Patzak.
“It signals a deep trust in the shared future and innovative strength of both companies.”
Markus Duffner, MD of the Hechinger Group, added: “Molabo will maintain its strong position in the product business, especially in the marine sector, while at the same time driving forward its global expansion.
“In addition, the production of drive systems will be increased in order to prepare for expansion into the industrial and, in the long term, automotive sectors, with Molabo taking on a central role in product development within the Hechinger Group.”
The Molabo management team will be strengthened with immediate effect by Markus Duffner as the new CEO, while Adrian Patzak and Dr Florian Bachheibl will retain their roles as COO and CTO respectively.
Leigh Hooper will take over the position of CFO.