Concentric closes GO Engineering acquisition
Pursuant to the announcement on September 18, 2024, Concentric AB (“Concentric”) today announces the completion of the acquisition of G.O. ENGINEERING Gesellschaft zur Entwicklung von Hard- und Software GmbH (”GO Engineering”). The acquisition of GO Engineering’s associated entity ÖkoGW Verwaltungs- und Vermietungs GmbH & Co. KG will be completed at a later date.
The acquisition is anticipated to positively impact Concentric’s performance by boosting electric sales and achieving medium-term cost efficiencies through in-house controller design and manufacturing. This will enhance Concentric’s ability to respond to customer needs and leverage a unified electronic platform across Concentric’s various brands and global operations. The acquisition of GO Engineering’s associated entity ÖkoGW Verwaltungs- und Vermietungs GmbH & Co. KG will be completed at a later date.
Martin Kunz, President & CEO of Concentric comments:
“We are pleased to have closed the acquisition of GO Engineering. The integration of GO Engineering into Concentric will accelerate our electrification strategy and strengthen our position in both current and future markets for electric liquid cooling and thermal management products.”
About GO Engineering
Founded in 1990 and based in Bühl, Germany, GO Engineering is a company specializing in high-quality electronics design and manufacturing. GO Engineering brings extensive experience and expertise in electronics design and manufacturing across various industries, including commercial vehicles and industrial applications.
For additional information, please contact Marcus Whitehouse (Concentric CFO) at Tel: +44 121 445 6545 or E-mail: info@concentricab.com
Concentric AB is an innovator in flow control and fluid power, supplying proprietary systems and components to the world’s construction, truck and bus, agricultural machinery, industrial equipment, and energy system application end-markets. The company has a global manufacturing presence including in North America, Germany, UK, Sweden, India and China. Concentric’s focus is to develop world class technology with innovative solutions that meet the sustainability needs of our customers.
Concentric offers engine products including lubricant, coolant and fuel pumps and hydraulic products encompassing gear pumps and power packs. Concentric also offers a range of electric products developed for the evolving electric and hybrid powertrain market, including electric water and oil pumps, electric fans, thermal management systems, high-voltage components, and electro hydraulic steering. These electric products are also finding uses in new applications in new markets in the energy system sector. In 2023, the Group had a turnover of MSEK 4,205 and circa 1,282 employees.