Coventry automotive firm acquired as part of Swedish deal
A SWEDISH automotive engineering company with a satellite operation in Coventry has been acquired in an undisclosed deal.
LeanNova Engineering, which has 200 employees based in Trollhättan, Gothenburg, Coventry and Shanghai, has been acquired by fellow Swedish engineering consultancy AF.
The new group is set to form the most complete automotive engineering services provider in Sweden.
LeanNova was founded in 2012 by former engineers from Saab Automobile. The company opened its office at the University of Warwick Science Park last September.
Jonas Wiström, CEO of AF, said: “Through the transaction, AF acquires a unique team of experienced engineers with OEM heritage. The automotive teams of AF and LeanNova complement each other well. The combined entity will be able to meet the increasing demand from the automotive customers for complete work packages to both light and heavy vehicles.”
Tomas Camén, CEO and co-founder of LeanNova, added: “We are looking forward to being part of AF. Many at LeanNova have worked together for a long time at the engineering department at Saab Automobile before joining LeanNova. I am sure we will be able to contribute to ÅF based on our proven track record and relations with customers inside and outside of Sweden.”
LeanNova will be part of AF’s Technology Division and the new owner has said the deal is likely to accelerate LeanNova’s development.
AF is an engineering and consulting company serving the energy, industrial and infrastructure markets.
