GLOBAL. Agreement with Transom Capital Group on takeover of Charging business

The German automotive supplier will divest its Charging business to strategically focus on its core business areas.

Transom Capital Group, headquartered in Los Angeles, USA, will acquire a majority stake in the Charging solutions business of Webasto, one of the top 100 suppliers to the automotive industry. Webasto will remain a minority shareholder in the division. The two companies signed a corresponding purchase agreement on February 7, 2024.

“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.”

“It is a rare opportunity that we can invest in a business of significant scale, in an underlying market that is on a historic hockey stick growth curve,” said Russ Roenick, Founder and Managing Partner at Transom Capital Group. “Charging is at the forefront of the global transition toward electric vehicles and we are super excited to partner with Webasto to continue to grow the Charging solutions business.”

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. 

Webasto is in close dialogue with the affected employees. The sites in Planegg (Germany), Monrovia (USA) and Guanajuato (Mexico) will be retained by the charging business after the sale.