Transom Capital Group Enters EV Market with Acquisition of Webasto Charging Solutions
LOS ANGELES, Feb. 12, 2024 (GLOBE NEWSWIRE) — Transom Capital Group (“Transom”), an operations-focused middle market private equity firm, is acquiring Webasto Charging Solutions, Inc. from Webasto Group, a top 100 supplier to the automotive industry worldwide. Webasto Charging Solutions is a leading provider of electric vehicle charging products and services. Transom is acquiring a major stake in the business and Webasto will remain a minority shareholder.
“Charging is at the forefront of the global transition toward electric vehicles, and Webasto presented a rare opportunity to invest in a business of significant scale and in an underlying market on a hockey stick growth curve,” said Russ Roenick, co-founder and managing partner at Transom Capital Group. “We’re super excited to partner with Webasto to continue delivering best-in-class solutions and playing a critical role during the automotive industry’s historic EV evolution.”
Webasto has invested heavily in electromobility in recent years in order to expand its product portfolio. In 2022, the company made the strategic decision to seek an investor for the wallbox and mobile charger business. Jefferies acted as exclusive financial advisor to Webasto.
“I am pleased that we have gained a partner that will continue the success story of our charging solutions business while continuing to offer development opportunities to the many highly qualified colleagues who are part of the business,” said Webasto Chief Technology Officer Marcel Bartling. “At the same time, this move allows Webasto to concentrate on its core business areas.”
About Transom
Transom Capital Group is a private equity firm specializing in middle market investments. The firm actively seeks to build long-term value by partnering with established companies and assisting them in achieving transformative growth. Transom’s proprietary functional pattern recognition capabilities, access to capital, and a proven value creation methodology combines with management’s industry expertise to create improved operational efficiency, significant top-line growth, cultural transformation and overall distinctive outcomes. Transom’s headquarters are located in Los Angeles, California. www.transomcap.com
About Webasto
As a global innovative systems partner to the mobility industry, Webasto is one of the 100 largest suppliers to the automotive sector worldwide. In development, manufacturing and sales, the company focuses on roof systems on the one hand and on vehicle electrification on the other hand. The product range includes, openable and fixed panoramic roofs, electric high-voltage heaters and batteries, as well as thermo management solutions. Among the customers of Webasto are manufacturers of passenger cars, commercial vehicles, and boats, as well as dealers and end customers. In 2022, the Group generated sales of over 4 billion euros and employed about 16,800 people at more than 50 locations. The headquarters of the company, which was founded in 1901, is located in Stockdorf near Munich (Germany). For more information, please visit www.webasto.com
Media Contacts
Transom Capital Group
Sam Butler, 35thAvenuePartners, for Transom Capital Group
Phone: +1 (206) 788-6504
E-Mail: sam@35thAvenuePartners.com
Webasto Group
Michael Halser
Communications Manager
Phone.: +49 (89) 85794 – 53340
E-Mail: michael.halser@webasto.com
