Construction M&A » By The Online Investor Staff, updated Tue., Dec. 6, 8:27 AM
Recent mergers and acquisitions in the Construction M&A category.
| This Slide: #65 of 100 |
Slide #65. Westport Innovations Inc. — BAF Technologies, Inc. and its subsidiary, ServoTech Engineering, Inc.
Acquirer:
Westport Innovations Inc. (NASDAQ:WPRT)
Acquiree:
BAF Technologies, Inc. and its subsidiary, ServoTech Engineering, Inc.
Details:
Westport Innovations Inc. (TSX:WPT / NASDAQ:WPRT), the global leader in natural gas engines, today announced that it has acquired BAF Technologies, Inc. (BAF) and its subsidiary, ServoTech Engineering, Inc. (ServoTech), subsidiaries of Clean Energy Fuels Corp. (NASDAQ:CLNE) for $25 million in Westport stock. Westport and Clean Energy also announced a $5 million joint marketing and sales program.
Westport Fuel Systems is a global organization for the engineering, manufacturing, and supply of alternative fuel systems and components for transportation applications. Co. operates its business through several segments, including: Original Equipment Manufacturer, in which Co. engineers, designs, and builds liquefied petroleum gas (LPG) and compressed natural gas (CNG) components and systems including pressure regulators, fuel injectors, electronic control units, valves, filters and complete bi-fuel, mono-fuel and dual-fuel LPG and CNG systems; and CWI Joint Venture, which serves the medium and heavy-duty on highway engine markets through its joint venture, Cummins Westport Inc.
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