2 minute read - 4th August 2022
Fablink to be acquired by EV Technology Group
Automotive structures and vehicle assemblies manufacturer Fablink Group has signed a definitive agreement to be acquired by EV Technology Group.
The acquisition is strategically important for the rapidly growing and listed EV Technology Group, giving it access to Fablink’s world class in-house manufacturing and engineering expertise. Fablink is a tier 1 supplier to the automotive, transport and off-highway sectors, counting leading global OEMs in its customer base.
Fablink Group also encompasses Streamline Automotive, a new division that provides specialist low and medium volume electric vehicle manufacturers with turnkey clean build vehicle assembly capabilities. It is already the manufacturing partner of MOKE International, a company that recently agreed to join EV Technology Group’s house of brands, and recently launched the electric MOKE.
Richard Westley, CEO and founder of Fablink Group, will remain in his current position in the new structure and will also join the EV Technology Group board as chief operating officer upon completion of the acquisition. Fablink will also retain its current leadership team, facilities and all of its 750 employees.
Richard Westley, CEO and founder of Fablink Group, said: “There’s no doubt that EV Technology Group’s acquisition of Fablink is a fantastic fit. This acquisition not only presents a superb blend of resources and capabilities, aligned to underpin EV Technology Group’s growth plans but also gives Fablink Group a platform for future investment in our people, facilities & technology.
“The acquisition will allow us to accelerate the delivery of our strategies in support of our existing global OEM customers, as we continue on our mission of achieving operational excellence across our manufacturing sites and also provide a platform to further develop the business as we look to support EV Technology Group’s own brands.”
Wouter Witvoet, CEO of EV Technology Group, added: “This acquisition is of huge strategic importance to the EV Technology Group. Having access to Fablink’s 750 world-class electric vehicle manufacturing and engineering experts in-house makes us more competitive, efficient, and agile for Fablink’s existing customers and our own future projects. On a personal note, I am also looking forward to working closely with Fablink’s founder and CEO Richard Westley who has built a remarkable world-leading business and will also be joining me at EV Technology Group to help steer the future success and growth of the entire group.”