Nagares is developing and manufacturing control units for powertrain functions as well power modules for ancillary units, thermal management systems and power converters for electromobility solutions for the vehicle industry. In 2015, the company headquartered in Motilla del Palancar achieved sales of around €70m with 435 employees.
Founded in 1971, the privately-owned company runs four production plants and a development center in Spain and is also represented in Europe, North America and Asia. Its customers include numerous global automotive OEMs. Together with the Polytechnic University of Valencia, the company has set up a chair for mechatronics. "With Nagares, we are strengthening our competence in the field of electromobility systems”, explains Wolf-Henning Scheider, Chairman of the Mahle group management. “Entering the control and power electronics is an important building block for Mahle on the way to integrated electric drives and units."
The business units of the Spanish company can be easily integrated into the Mahle’s Mechatronics Division, Scheider said, because here all activities related to electric drives have been bundled since 2016. Electromotors and electrical drive and mechatronics systems are developed and produced in this division.
The financial terms of the transaction are not disclosed.