EV Technology Group has entered an agreement to acquire leading UK automotive Tier 1 supplier and specialist manufacturer, Fablink Group.
The acquisition is a strategically important one for EV Technology Group, giving it access to Fablink’s in-house manufacturing and engineering expertise.
EV Technology Group, founded in 2021, owns motoring brands, control manufacturing and distribution and experiences with the aim of vehicle electrification.
Since it was founded over 14 years ago, Fablink has built up a market-leading position as a Tier 1 supplier to the automotive, transport and off-highway sectors, counting leading global OEMs in its customer base.
Fablink Group is known for the supply of pressings and complex welded structures, cab assemblies, lightweight bonded aluminium chassis & structures, mixed material architectures, as well as niche and lower volume build for automotive and e-mobility brands.
The acquisition includes all seven Fablink manufacturing sites across the UK, and Streamline Automotive, a new division of Fablink Group 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 has recently agreed to join EV Technology Group’s house of brands with the signing of a definitive agreement for EV Technology Group to acquire up to 100% of its shares, and who has recently introduced the Electric MOKE.
The Acquisition is expected to close later in the year.
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 executive team as chief operating officer upon completion of the acquisition. Fablink will also retain its current leadership team, facilities and over 750 employees.
Richard Westley, CEO, and founder 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 resource and capabilities, aligned to underpin EV Technology Group’s significant growth plans, but also gives Fablink Group a platform for significant future investment in our people, facilities and technology. The acquisition allows 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 provides a platform to further develop the business as we look to support EV Technology Group’s own brands. This is a tremendously exciting step for Fablink and we are looking forward to an even brighter future as part of a larger group.”
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.”
EV Technology Group