Horiba To Acquire FuelCon
10 August 2018
Horiba Europe GmbH said it has agreed terms for the acquisition of FuelCon AG. The company will become part of Horiba Automotive Test Systems – a supplier the fields of engine, driveline, brake and emissions test systems. The completion of the transaction is subject to regulatory clearance, and terms were not disclosed.
Founded in 2001 and based in Magdeburg-Barleben, Germany, FuelCon is a manufacturer and supplier of R&D and end-of-line (EOL) test beds and turnkey solutions for the e-mobility sector, with expertise in battery and fuel cell applications.
“We regard FuelCon as the perfect fit for our strategic ambitions,” said Robert Plank, COO, Horiba Europe GmbH. “With their range of products and their applications expertise, we see a great future ahead of us. We will now be able to offer an increasingly comprehensive suite of test and validation solutions for a full range of automotive propulsion technologies moving from combustion engines to electrified powertrains.
“By bringing FuelCon into the Horiba group of companies and developing their Magdeburg facility as our global center of competence for fuel cell and battery test systems, we take another step in future-proofing our automotive business and achieving our aim of becoming the number one partner for validating vehicle efficiency and performance.”
FuelCon has a reputation for the design and manufacture of precision high-performance solutions and is trusted for its deep technical know-how by global OEMs and Tier 1s as well as international research laboratories, said Horiba.
By joining the Horiba group of companies, FuelCon is expected to be able to respond to the growing need for increasingly complex development and validation solutions and harness Horiba’s international network.
This acquisition represents a strategic move from the Horiba group, one that is intended to increase its presence in the vehicle electrification market. The purchase is expected to enable the company to provide a comprehensive suite of test and development solutions across battery and fuel cell lifecycles.
“In line with global megatrends, we are witnessing the continued electrification of transport with a mix of pure EV and complex hybrid solutions,” said George Gillespie, executive vice president, Horiba Automotive Test Systems. “With this in mind, Horiba needed to find a suitable industry leader who offered a range of technical solutions that complement our existing automotive test systems business and our position of global leadership in emissions measurement. In FuelCon we have found the perfect partner.”