BorgWarner Acquires Rhombus Energy Solutions
August 3, 2022
BorgWarner Inc. acquired San Diego-based Rhombus Energy Solutions for an enterprise value of up to $185 million, with approximately $130 million paid at closing and up to $55 million in contingent payments. The deal expands BorgWarner's charging business—adding V2G and DC fast-charging capabilities and a North American presence—and leverages BorgWarner's manufacturing, engineering, supply chain, and sales strengths to scale Rhombus's technology.
- Buyers
- BorgWarner Inc.
- Targets
- Rhombus Energy Solutions
- Sellers
- Existing shareholders / investors (including Emerald Technology Ventures and Cycle Capital)
- Industry
- Energy
- Location
- California, United States
- Transaction Type
- Buyout
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