Assystem has acquired 100% of the shares of Engineering Partner Automotive Nordic AB ("Engineering Partner") a company based in Gothenburg, Sweden. Engineering Partner is a leading specialist of engineering services rendered to the automotive and industrial markets in Sweden, with a range of skills covering all aspects of product development such as mechanical and electrical engineering, hardware and software development, project management, testing and manufacturing support.
With premises in Gothenburg, Trollhättan and Södertälje, Engineering Partner currently employs 164 engineers and is expected to generate revenues of € c.17m in 2017. It benefits from rapid growth, reflecting the increasing needs of the Swedish automotive market for development projects notably dedicated to autonomous and electrical vehicles.
Engineering Partner mainly serves Swedish blue chip OEMs through time & material and workpackage contracts.
This acquisition will enable Assystem Global Product Solutions (GPS) to access the Swedish market, to strengthen its commercial relationships with global OEMs and to diversify its customer portfolio, which will overall strengthen its automotive business.
Fredrik Blomberg, Per Saldh and Peter Johanson, founders of Engineering Partner will continue in their respective positions as Managing Director and Key Account Managers of Engineering Partner, and will contribute to develop Engineer Partner and more generally Assystem GPS's business in Sweden and further in Scandinavia.
Roch Thaller, Vice President Automotive & Transportation at GPS. said
"We are delighted to now count Engineering Partner among GPS entities. This acquisition has clear objectives: increase our international footprint, enlarge our global automotive offering, reinforce our capability to propose workpackages and serve our customers with furthermore solutions thanks to our Automotive Engineering Centres".