Aequita to acquire ZF's electronic interfaces product line
Aequita, a German family-owned industrial group, is taking over the global business of the product line Electronic Interfaces from ZF Friedrichshafen AG.
Electronics Interfaces develops and produces gearshift systems, actuators and haptic control systems for the automotive industry and has approximately 750 employees in Germany, China, Mexico and the USA.
The planned transaction is said to be the result of a review of the strategic options for the product line Electronic Interfaces as part of the transformation of ZF, which the company launched in 2020, a press release reads.
"The approach, values and experience of Aequita in the automotive industry are the perfect fit for Electronic Interfaces. Aequita has recognized the high innovation potential and excellent conditions for developing Electronic Interfaces into a midsized technology leader," says Stephan von Schuckmann, responsible for the division Electrified Powertrain Technologies at ZF, in the press release.
Aequita plans to turn the product line Electronic Interfaces into an independent company with its own brand. The location in Diepholz, Germany will remain the corporate headquarters with R&D and production. The manufacturing locations in Shenyang, China and Juárez, Mexico will also be retained, as will the sales and logistics locations in Northville and El Paso, USA and Shanghai, China.
"The Electronic Interfaces Product Line with its sustainable cutting-edge technologies is the kind of hidden gem we are looking to find," explained Dr.-Ing. Axel Geuer, Managing Partner of Aequita. "We see enormous potential especially with actuators and technology involving magnetorheological fluids for haptic control. We aim to leverage this potential together with the global team at Electronic Interfaces."
ZF has agreed with Aequita to take over all existing collective agreements and other legal agreements for the workforce. The financial details of the agreement have not been disclosed.