IMPROVED advises Rhombus – a leading US high-power EV Charging and Energy Management Solution provider – on the sale to BorgWarner

“The technology that Rhombus brings expands BorgWarner’s electric vehicle portfolio in North America and complements our existing European charging business. This transaction supports our Charging Forward strategy and strengthens our electric vehicle positioning as we look to power the entire propulsion system from grid to wheels.
As a supplier to the automotive and commercial vehicle markets, we are not only delivering innovative technology for electric drivetrains, but we are also focused on supporting certain key elements of the infrastructure for electric mobility, including charging.”

“After leading an incredibly talented team of people for ten years at Rhombus, I am energised to take this next step in achieving our goals and vision to become part of a global industry leader in E-mobility Charging by joining the BorgWarner organisation. The strategic fit with BorgWarner’s Charging Forward initiative is perfect; providing Rhombus with the platform to continue our rapid growth by leveraging BorgWarner’s strengths and being part of one of the world’s largest providers of innovative and sustainable mobility solutions for the global vehicle market.”

“It has been a pleasure working with the highly professional and committed team from IMPROVED to get this transaction closed.“

“We greatly appreciated collaborating with IMPROVED. Their team members were thorough, dedicated and rigorous, and key to the success of the transaction.”

“It has been a true pleasure working with the Rhombus team and its shareholders. We continuously see new entrants in the EV charging sector embracing innovative category leaders like Rhombus. We foresee more transformational M&A activity from incumbents in the automotive sector seeking to tap into new high-growth markets, and we are excited to see this partnership reach new heights.”

“Global EV adoption is accelerating at a rapid pace and continues to outperform various industry forecasts. To support the rapid uptake in EV demand, the need for reliable global EV Charging and Energy Management Solutions is greater than ever – especially within the (semi-) heavy-duty vehicles market. The partnership between Rhombus and BorgWarner will deliver a significant contribution towards that goal, and signifies a true landmark transaction in the E-mobility sector.”