On December 16, 2019, Weichai Power Co., Ltd. ("Weichai Power" or "the Company", HKEX: 2338, SZSE: 000338) has announced its strategic acquisition of ARADEX AG.
On December 17, 2019, ARADEX AG announced on its website “ARADEX wins Weichai Power as strategic investor”.
About ARADEX AG
Since founded in 1989, ARADEX AG has been committed to the R&D of motor, electric control and power supply for industrial and transportation industry, and now has become a pioneer in high power variable frequency and power supply equipment technology. ARADEX AG commands powerful design and development and system integration capabilities in terms of various CNC servo motor and servo driver, new energy commercial vehicle motor controller, motor, fuel cell DC/DC converter and other products. Hundreds of successful application cases build a good reputation for those excellent products with design life exceeding 30000 hours.
About Weichai Power Co., Ltd. (HKEX: 2338, SZSE: 000338)
Founded in 2002, Weichai Power Co., Ltd. ("Weichai Power" or "the Company") is one of the largest car parts and power system conglomerates in China. Its clusters include dozens of quality companies such as Shaanxi Heavy-duty Motor Company Limited, Shaanxi Fast Gear Co., Ltd., KION Group AG, Linde Hydraulics GmbH & Co. (KG) and Dematic. The Company's business covers three major segments: vehicles and machines, powertrain and smart logistics, formulating the most complete and the most competitive industry chain in the automobile industry across China. Weichai Power was listed on the Main Board of the Stock Exchange of Hong Kong on 11 March 2004 and on the Shenzhen Stock Exchange on 30 April 2007.
Both parties will strive collaboratively and synergize fully to develop new energy commercial vehicle power system. ARADEX AG will expand and grow on the synergies of Weichai Power's global complete vehicle and machinery, core components of power system and global R&D innovation center and other resources, and Weichai Power is expected to facilitate industrial upgrading and restructuring with the contribution from ARADEX AG. Both parties' deep integration helps to boost energy conservation and emission reduction, and provide sustainable power to protect clear sky and white clouds for all human beings.
As the M&A advisor of the shareholders of ARADEX AG, Eurasian Consulting assisted the Seller in the selection of potential investors, was responsible for preparing and managing the bidding process, lead the negotiations and coordinated different resources until completion of the transaction. We believe the collaboration between Weichai Power and ARADEX AG will be a great success and are proud to have helped realize this transaction.
References:
https://www.weichai.com/mtzx/jtdt/201912/t20191216_59470.htm
https://www.aradex.de/en/company/press/press-releases/details/aradex-wins-weichai-power-as-strategic-investor/
