BURNABY, British Columbia, December 7, 2016 /PRNewswire/ --
Delta-Q Benefits From Strong Strategic Fit and Global Footprint
Delta-Q Technologies (Delta-Q), a leader in battery charging solutions for electric vehicles and industrial machines, and ZAPI S.p.A. (ZAPI), an Italy - based manufacturer of electronic speed controllers, electric motors, battery chargers and associated products for electric and hybrid vehicles, today announced that ZAPI has acquired all outstanding shares of Delta-Q, including those held by investor Tandem Expansion Fund. The transaction closed on November 30th, 2016.
"The acquisition of Delta-Q is a strong strategic fit for ZAPI Group, and will provide additional solutions that the combined customer base will benefit from," said Giannino Zanichelli, President of ZAPI Group. "We are impressed with Delta-Q's revenue growth, brand strength and people. We look forward to supporting the Delta-Q management team and employees as they continue to execute their growth plans under the Delta-Q brand." After the acquisition, the group will employ over 1,200 people in its main facilities worldwide with a total revenue of more than 400 million US dollars.
"As a part of the ZAPI Group, we will be able to accelerate our market and geographic expansion," said Ken Fielding, Delta-Q's co-founder and CEO. "The capabilities of ZAPI allow us to strengthen the support and service we provide to our customers and partners. We are excited about where we can go next, building on the exceptional capabilities of our team, our strong core values and further leveraging the Delta-Q brand which is well recognized in our markets. As part of the ZAPI S.p.A Group we look forward to continuing to drive our growth forward, leveraging their capabilities, complementary technologies and global foot-print."
ZAPI is one of the main manufacturers of electronic speed controllers for application in electric and hybrid vehicles. ZAPI, founded in 1975, has focused its activity on development, innovation, design and manufacturing of a wide range of high quality low and high voltage electronic controllers and associated products, such as electric motors, battery chargers, and electric power steering solutions. Today, ZAPI is the recognized leader in advanced controller technology and electric power train systems throughout the world.
Mooreland Partners acted as financial advisor, and Stikeman Elliott LLP along with Blake, Cassels & Graydon LLP acted as legal counsel, to Delta-Q. Freshfields Bruckhaus Deringer LLP along with Lawson Lundell LLP acted as legal counsel for ZAPI.
For more information on the Delta-Q's battery chargers, visit www.delta-q.com
About Delta-Q Technologies
Delta-Q Technologies is a leading provider of battery charging solutions that improve the performance and reliability of electric drive vehicles and industrial equipment. The company has become the supplier of choice to many of the world's leading manufacturers of electric golf cars, lift trucks, aerial work platforms, motorcycles and scooters, floor care machines, and utility and recreational vehicles. Delta-Q is headquartered in Vancouver, Canada with a local presence in the U.S., Europe and Asia. For more information, please visit www.delta-q.com.
CEO, Delta-Q Technologies
SOURCE Delta-Q Technologies Corp.