Thermal management systems supplier Voss Automotive said on Monday it had acquired Henzel Automotive.
Financial terms were not disclosed.
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“This step complements the Voss Group’s development and production competencies in the automotive business unit for continued growth in thermal management,” Voss said in a statement.
“Henzel is successfully developing a range of innovative product solutions, particularly for battery electric vehicles, which enable customers to use highly efficient components and system solutions for thermal management.”
The Henzel product line includes thermostats with integrated sensors, passive and actively controlled switching and proportional mixing valves and integrated function modules.
Valves, sensors, conduits and an electric cooling water pump are integrated into a complete, installation-ready module which will go into series production in 2022.
It “is the prelude to a new generation of particularly cost effective and space optimiSed system solutions in thermal management, which will also be expanded for higher volume flows”, Voss claimed.
Voss said Henzel Automotive’s special strength “derives from its innovative ideas combined with a high degree of vertical integration, which extends from product design to toolmaking and its own assembly automation”. This had resulted in Henzel “winning a number of production series nominations from well-known European premium manufacturers for new battery electric as well as conventional vehicle platforms”.
The new acquisition’s site is being expanded to include a multi storey production hall for series production which will be completed in mid 2021.
In 2019, Henzel Automotive booked sales of EUR32m and had 268 employees. Despite the COVID-19-related market slump, the new owner “expects previous year’s sales will be exceeded”.
Additional workers are already being sought to support further growth and to further develop the product line.
“With the acquisition of Henzel Automotive, the Voss Group has taken a significant step in its evolution from component manufacturer to system provider,” Voss said.
The acquisition is subject to usual regulatory approval.
