EV Technology Group to acquire 76% of Fablink Group for £29.5M

EV Technology Group signed a definitive agreement to acquire 76% of Fablink Group, a British Tier 1 supplier and specialist manufacturer, for £29.5 million in cash. Fablink has ~750 employees across seven manufacturing sites and serves electric vehicle demand.

“Fablink Group is a strategic acquisition to bring engineering, supply chain, manufacturing and assembly expertise in-house, strengthening EV Technology Group’s commercial offering.”nasdaq.com

• 3 sources
• nasdaq.comEV Technology Group Announces Agreement to Acquire Up to 100% of Fablink Group, Spearheading Future Global Growth | NasdaqAug 3, 2022
• financialpost.comEV Technology Group Announces Agreement to Acquire Up to 100% of Fablink Group, Spearheading Future Global Growth | Financial PostGlobeNewswireAug 3, 2022
• engineering.comEV Technology to Acquire Fablink - Engineering.comPuja MitraAug 4, 2022

Summarized from public sources; check the original articles before acting on it.