Fuel systems manufacturer Spectra Premium announced its acquisition of the controlling stake in TechROi Fuel Systems AB, which designs and engineers stainless steel fuel tanks as well as related components.
“We are very pleased with this transaction, which is another key milestone in our commitment to the globalization of our OEM operations and follows on our expansion into Asia through our operations in China,” said Jacques Mombleau, president and chief executive officer of Spectra Premium.
He added that the move will help the company better serve customers globally and provide greater access to the OEM market in Europe.
TechROi Fuel Systems’ engineering centre, fuel testing lab and administrative offices are based in Trollhättan, Sweden, and its plant located in Bengtsfors, Sweden, manufactures stainless steel fuel tanks for hybrid vehicles, for which Spectra designs its products.
“I wish to thank FourierTransform (a subsidiary of SamInvest, owned by the Swedish government) and the outgoing shareholders for their support of the TechROi Fuel Systems team over the years. We look forward to working with our new partner Spectra Premium, which with their deep expertise in the engineering and manufacturing of fuel systems will allow TechROi Fuel Systems to reach its full potential,” added Tommy Christensen, the founder of TechROi. He will remain a partner with a minority stake in the company.