Delta-Q develops chargers for electric golf cars, lift trucks, aerial work platforms, motorcycles and scooters and has a revenue of $50m. The terms of the deal were not disclosed.
ZAPI, based just outside Bologna, is one of the main manufacturers of electronic speed controllers for application in electric and hybrid vehicles. "The acquisition of Delta-Q is a strong strategic fit for ZAPI Group, and will provide additional solutions that the combined customer base will benefit from", said Giannino Zanichelli, President of ZAPI Group.
"We are impressed with Delta-Q's revenue growth, brand strength and people. We look forward to supporting the Delta-Q management team and employees as they continue to execute their growth plans under the Delta-Q brand."
After the acquisition, the group will employ over 1,200 people in its main facilities worldwide with a total revenue of more than US$400m.
"As a part of the ZAPI Group, we will be able to accelerate our market and geographic expansion" said Ken Fielding, Delta-Q's co-founder and CEO. "The capabilities of ZAPI allow us to strengthen the support and service we provide to our customers and partners."
"We are excited about where we can go next, building on the exceptional capabilities of our team, our strong core values and further leveraging the Delta-Q brand which is well recognized in our markets. As part of the ZAPI Group we look forward to continuing to drive our growth forward, leveraging their capabilities, complementary technologies and global foot-print."