The engine manufacturer Deutz is parting ways with its former subsidiary Torqeedo. The new owner is Yamaha Motor Co. from Japan.
Deutz justifies the move with a repositioning of the portfolio. Torqeedo, a specialist in electric drives, was acquired in 2017 in order to expand Torqeedo’s market leadership in maritime electromobility. The planned technology transfer has now been successful.
With a view to further scaling, other partners are better suited to Torqeedo. “We are therefore delighted to have found such a strategic partner in Yamaha,” says Deutz CEO Sebastian C. Schulte. A purchase price was not disclosed, but there is talk of a “higher double-digit million amount.”
Yamaha offers growth opportunities for Torqeedo
With Yamaha as the new owner, Torqeedo will gain access to a larger sales and global service network. At the same time, Torqeedo will support Yamaha in driving forward the change in marine propulsion technology and exploiting synergies in the supply chain.
The Deutz subsidiary Torqeedo generated sales of around €35 million in the first nine months of the 2023 financial year with around 230 employees. The agreement is subject to the usual regulatory approvals. It is expected to be completed by the end of the first quarter of 2024.
