DANA acquired Nordresa Motors, Inc. for $12 million, a transaction completed in August 2019, structured as all cash.
Nordresa Motors, Inc. operates in Commercial Vehicle, is based in Canada. A 100% ownership interest in Nordresa Motors, Inc. of Canada, a prominent integration and application engineering expert for the development and commercialization of electric powertrains for commercial vehicles.
The investment further enhances Dana's electrification capabilities by combining its complete portfolio of motors, inverters, chargers, gearboxes, and thermal-management products with Nordresa's proprietary battery-management system, electric powertrain controls and integration expertise to deliver complete electric powertrain systems.
Added EV powertrain integration and battery-management capability to deliver complete e-powertrain systems. Combines Dana's e-propulsion hardware portfolio with Nordresa's BMS and integration expertise for complete systems Commercial Vehicle operating segment
The investment further enhances Dana's electrification capabilities by combining its complete portfolio of motors, inverters, chargers, gearboxes, and thermal-management products with Nordresa's proprietary battery-management system, electric powertrain controls and integration expertise to deliver complete electric powertrain systems.Dana FY19 10-K, Note 2 Acquisitions
Advisory firms were not disclosed for this transaction.