Fablink Group announces agreement to be acquired by EV Technology Group, spearheading future global growth
● Fablink Group, leading British Tier 1 supplier and specialist manufacturer, announces Definitive Agreement to be acquired by the EV Technology Group Ltd.
● EV Technology Group (NEO: EVTG) (OTCQB: EVTGF) (DE: B96A) is a listed company with a mission to electrify iconic brands, creating and redefining the joy of motoring for the electric age – Fablink Group is a strategic acquisition to bring engineering, supply chain, manufacturing and assembly expertise in-house
● Fablink Group to retain leadership team, employees, facilities and global customer base
● Acquisition will allow Fablink Group to accelerate its growth aspirations as it looks to expand its business supporting OEM customers as well as EV Technology Group’s expanding portfolio of brands
● Fablink Group is the contract vehicle manufacturing & assembly partner of MOKE International which was also recently acquired by EV Technology Group
Northamptonshire, 3 August 2022: Fablink Group, the leading UK specialist manufacturing expert and Tier 1 supplier, announces that it has signed a Definitive Agreement to be acquired by EV Technology Group (the “Acquisition”).
The Acquisition is strategically important for the rapidly growing and listed EV Technology Group giving it access to Fablink’s world-class in-house manufacturing and engineering expertise. Since it was founded, 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 also encompasses Streamline Automotive, a new division 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 recently agreed to join EV Technology Group’s house of brands, and recently launched the Electric MOKE.
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 board as Chief Operating Officer upon completion of the Acquisition. Fablink will also retain its current leadership team, facilities and all of its 750+ strong workforce.
Richard Westley, CEO, and founder Fablink Group stated “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 resources and capabilities, aligned to underpin EV Technology Group’s growth plans but also gives Fablink Group a platform for future investment in our people, facilities & technology. The acquisition will allow 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 provide 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 stated “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. On a personal note, I am also looking forward to working closely with Fablink’s founder and CEO Richard Westley who has built a remarkable world-leading business and will also be joining me at EV Technology Group to help steer the future success and growth of the entire group.”
About Fablink Group
Fablink Group, headquartered in Northamptonshire, is a leading British Tier 1 supplier of automotive structures and complete vehicle assemblies to some of the world’s leading OEMs in the automotive, transport and off-highway markets including CAT, CNH, DAF, JLR, JCB, Mecalac, MOKE, Morgan, Nifty-Lift & Perkins. It also has seen significant growth in the last 18 months supporting a number of EV start up brands.
Fablink Group is renowned 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. With depth and breadth of operations across six British sites, Fablink Group’s 500,0002 ft of manufacturing space is home to 750 highly skilled engineers and production staff.
At the heart of Fablink Group sits Fablink Technologies as an advanced engineering and technology hub providing engineering services through product development, prototyping, tooling design and build as well as a strong design for manufacture (DFM) capability to support Fablink Group’s customers. Fablink Technologies’ market-leading expertise delivers complete engineering engagement with customer engineering teams from initial concept, through prototyping to manufacture. Streamline Automotive is a new division within Fablink Group, providing niche and low-volume clean build manufacturing for premium OEMs, specialist brands and e-mobility start-ups. Streamline E Mobility – the first division sub-brand – provides e-mobility companies access to turnkey manufacturing solutions for lightweight chassis, mixed-material architecture, and bonded aluminium structures. Streamline Panels and Assemblies is a well-established metal forming and fabrication business, creating exquisite hand-crafted bodies and assemblies.
About EV Technology Group
The EV Technology Group electrifies iconic brands, with a mission to create and redefine the joy of motoring for the electric age. The Group encompasses a unique “house of brands”. Without the burden of legacy, it can acquire, revitalise, and support iconic automotive brands. At the core of EV Technology Group, enabling these brands is captive capability with group in-house design, product development and engineering, manufacturing, and purchasing at scale. EV Technology Group’s electric vehicle architectures and technologies are designed to deliver next-level end-to-end, seamless, connected, and exciting customer experiences.
The Group is led by a global multi-sector, multi-skilled leadership team with an agile culture and a core capital market capability providing corporate strength and core M&A capability.
Media contacts:
Nick Francis
Associate Director, Influence Emobility
nick@influenceemobility.com
07767615115
media@fablink.co.uk
www.fablink.co.uk
