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Ener1 is a US-based holding company of automotive battery systems manufacturer EnerDel, while Valmet Automotive is a Finland-based provider of engineering and manufacturing services to automotive industry.
Following the investment, Ener1 will hold approximately 31% stake in Think Technology. The transaction is expected to close by the next week.
Deal Value (US$ Million) 47 Deal Type Private Equity Sub-Category None Deal Status Announced: 2009-08-27
Deal Participants
Target (Company) Think Technology AS Acquirer 1 (Company) Ener1, Inc. Acquirer 2 (Company) Valmet Automotive, Inc.
Deal Rationale
The investment would allow Think Technology to reduce debt and to expand its business of producing and marketing of its electric cars.
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