More acquisitions for Comer Industries

Comer Industries announced the acquisition of Benevelli Electric Powertrain Solutions and Sitem Motori Elettrici.

Both companies are located in the same Italian region as Comer Industries – Emilia Romagna, in the hearth of Italy’s Motor Valley - and are specialists in motors and transmissions for electric vehicles.

Benevelli Electric Powertrain Solutions was founded in 1962 by Emidio Benevelli in Rubiera, Italy, and is specialized in the design and manufacture of axles and electric drive wheels.

Sitem Motori Elettrici is headquartered in Castelnovo di Sotto and specializes in the development of electric motors with innovative technologies in rotary or linear configuration (IPM synchronous motors, axial-flow motors, torque motors and ironless motors) as well as more traditional technologies such as SPM synchronous motors, reluctance motors, and traction-oriented asynchronous motors.

Comer Industries said, the acquisition has a twofold objective: to grow in a booming market by enriching the range of products offered through investments in advanced technologies constantly evolving and to preserve the value of Italian excellence in the mechanical sector.

Matteo Storchi, chairman and CEO of Comer Industries commented: “With this operation involving two excellences in a rapidly expanding market, such as that of electric vehicles, the concreteness of our future vision is confirmed.”

The transaction comes exactly one year after the signing of the agreement for Comer Industries to acquire 100% of Walterscheid, Germany-based specialist in mobile secondary drives, including driveshafts, clutches, gears, and tractor/implement systems.