Engineering consultancy advised by Clearwater on its acquisition
Corporate finance firm Clearwater International has advised an engineering consultancy on its sale to Hinduja Tech, a engineering services company.
Drive System Design which is headquartered in Leamington Spa, works with OEMs and TIERs around the world, to create new technologies to make products “competitively superior”.
Working with customers through its technical centres in the USA and the UK, Drive System Design has made significant improvements in the energy efficiency of hybrid and electric vehicles.
Following the acquisition, Hinduja Tech is set to add design and testing labs, along with advanced engineering capabilities, in the UK and United States.
Kumar Prabhas the CEO of Hinduja Tech said: “The acquisition of Drive System Design is an important milestone in Hinduja Tech’s growth journey in the eMobility Industry.
“DSD has been focused on futuristic powertrain technology (ePT) since its inception over 15 years ago and has a state-of-the-art infrastructure in the UK and United States.
“Both of these markets have high-end engineering talent and are leading the charge in the transition to electric mobility. As this demand increases, the combination of HT and DSD strengths will enable offering the best-in-class eMobility solutions for global markets.”
Mark Findlay, CEO of Drive System Design said: “We believe that HT is the right partner at the right time and see this as a tremendous opportunity for the long-term future and expanded capabilities of DSD.
“As part of the HT family, DSD will be able to increase its reach through HT’s global business model and full vehicle development and integration expertise. It is an ideal complement to DSD’s advanced engineering capabilities in transmission, driveline, motor design, power electronics and simulation.”
The Clearwater International team consisted of managing partner Phil Burns, director Mark Gillingham and senior associate Louise Hooper.
Mark Gillingham, Director at Clearwater International added: “As an early pioneer in the field of electrification, DSD is a true world-leading business and is incredibly well-positioned to capitalise on the key megatrends in the mobility market.
“This transaction will strengthen the combined business’ international market share and support the expansion of core services on a global scale.”