AB Dynamics
AB Dynamics, which designs and manufactures advanced automotive testing and measurement products has acquired Michigan-based Venshure Test Services LLC.
VTS is a leading provider of dynamometer-based testing services to the automotive sector in the USA, particularly focused on the development and deployment of electric vehicles (EV) for US based automotive OEMs.
The company offers a full range of testing services including mileage accumulation and assessment of EV powertrain and battery performance across a range of extreme climatic conditions.
The business comprises a 23,300 sq ft testing facility close to the Detroit area and includes dynamometers and EV vehicle testing laboratories.
Bradford-upon-Avon's AB Dynamics said that the £23.6 million acquisition expands the Group's capabilities and complements its existing California-based track testing services business.
VTS has a good track record of profitable, cash-generative growth. Based on unaudited accounts, in the year ended 31 December 2023, VTS generated revenue of $3.5m (2022: $2.4m).
Dr James Routh, Chief Executive Officer, said: "I am very pleased to announce the acquisition of VTS and the expansion of the Group's testing services provision in the USA. The acquisition expands both our capability and geographic coverage in the important and growing field of EV battery and powertrain performance evaluation.
"Customer focus on electric vehicle and battery technology is a long-term trend that will support continued growth at AB Dynamics as competition increases and new vehicle models require additional development work, testing and validation.
"VTS has a first-class reputation for providing vehicle testing services to its OEM customer base and we look forward to leveraging the sales capabilities of AB Dynamics to drive cross-selling and expand this further.
"We expect the acquisition to provide us with an excellent platform for further growth and we are delighted to welcome the VTS team to AB Dynamics."
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