BORGWARNER HAS DIVESTED ITS GATESHEAD, UK TECHNICAL CENTER TO TURNTIDE TECHNOLOGIES
Birmingham, Michigan – July 13, 2021 – Angle Advisors is pleased to announce that Turntide Technologies Inc. (“Turntide”) has acquired the Gateshead Technical Center (“Gateshead”) from BorgWarner, Inc. (“BorgWarner”). Angle Advisors acted as the exclusive investment banking advisor to BorgWarner in completing this transaction.
Headquartered in Northeast England, BorgWarner Gateshead is a leading designer of engineered power electronics for vehicular propulsion systems. With a staff of over 80 engineers, the Company engineers and develops products including motor controllers, inverters, chargers, and converters for automotive, commercial vehicle, industrial and material handling applications. Through decades of technical innovation, the Company has built long-term, engineering-based relationships with a diverse global OEM customer base. Operating from a state-of-the-art R&D center, the Company offers a complete suite of services from product design and development (software and hardware) to in-house testing, validation, prototyping, program management, and contract manufacturing management.
“The electrification of transport is inevitable, but it isn’t coming quickly enough. With success in the built environment under our belt, incorporating the business’ technology with Turntide’s Smart Motor System will allow us to simplify the path to sustainable transport,” said Matt Boyle, OBE, Managing Director of Turntide Transport. “Gateshead has become well-known worldwide as a growing center for digital business. We are excited to make Gateshead a center for our innovation in sustainable transport, a move that reflects our confidence in the city.” “Our world is at a tipping point. We desperately need to reduce our carbon emissions, but they continue to rise despite the accelerating electrification of passenger vehicles,” said Ryan Morris, Turntide’s Chairman and CEO. “Because Turntide has been successful in driving down energy use and waste in the built environment, it is critical that we translate this success into transportation to help combat the growing threat of climate change. We are excited to incorporate the experience and innovation that this business has to offer as we launch into the transport market.”
BorgWarner Inc. (NYSE: BWA) is a global product leader in delivering innovative and sustainable mobility solutions for the vehicle market. Building on its original equipment expertise, BorgWarner also brings market leading product and service solutions to the global aftermarket. With manufacturing and technical facilities in 96 locations in 24 countries, the company employs approximately 50,000 worldwide. For more information, please visit www.borgwarner.com.
Turntide Technologies develops breakthrough sustainability technologies that drive down energy consumption and operating costs in buildings, agriculture, and electric transport, creating a path to 100% renewable energy and business sustainability. The Turntide Smart Motor System is part of an open Platform for Sustainable Operations™, driven by a patented Turntide Optimal Efficiency Motor™ with intelligent automation and cloud connectivity. The Turntide Platform advances sustainability goals, saves money, and improves sustainability throughout the enterprise. For more information, please visit www.turntide.com.
Angle Advisors, with offices in the United States, Germany, and China, specializes in mergers and acquisitions and capital raising. The firm’s professionals have completed 239 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.