DANA acquired TM4 Inc. for $125 million paid at closing for a 55% controlling interest, a transaction completed in June 2018, structured as all cash.
TM4 Inc. operates in Commercial Vehicle, is based in Boucherville, Quebec, Canada, had revenue of about contributed $11 million of sales in 2018. A 55% controlling ownership interest in TM4 Inc. of Boucherville, Quebec, acquired from Hydro-Quebec. TM4 designs and manufactures motors, power inverters and control systems for electric vehicles, complementing Dana's electric gearboxes and thermal-management technologies. TM4 also held a 50% interest in PEPS (Prestolite E-Propulsion Systems Beijing).
The transaction establishes Dana as the only supplier with full e-Drive design, engineering and manufacturing capabilities, offering electro-mechanical propulsion solutions to each of our end markets. TM4's technology and advanced manufacturing facility in Boucherville, Quebec will add to our global technical centers, and their 50% interest in PEPS provides an opportunity to enhance our position in the fastest growing market for electric vehicles.
Gave Dana full in-house e-Drive (motor + inverter + control) capability across all end markets. Completes Dana's e-Drive portfolio alongside its electric gearboxes and thermal-management technology Commercial Vehicle operating segment
The transaction establishes Dana as the only supplier with full e-Drive design, engineering and manufacturing capabilities, offering electro-mechanical propulsion solutions to each of our end markets.Dana FY19 10-K, Note 2 Acquisitions
Advisory firms were not disclosed for this transaction.