Johnson Electric acquires a majority stake in Pendix GmbH, provider of electric drives and e-bikesComments Off on Johnson Electric acquires a majority stake in Pendix GmbH, provider of electric drives and e-bikes
Source: Johnson Electric
Johnson Electric announces the acquisition of an 80% stake in LEVA-EU member Pendix GmbH, a well-established technology-driven market player in the e-bike industry. Based in Zwickau, Germany, Pendix designs, manufactures, and brings complete electric cargo bikes and electric drives for bicycles to market. Pendix’s offering combines leading innovation with an extremely high level of product reliability.
“By welcoming Pendix as part of Johnson Electric Group, we are expanding our e-mobility offering and entering the e-bike market. With Johnson Electric’s industrial scale and global reach together with Pendix’s expertise in the e-bike sector, we are positioning ourselves into a fast-growing and innovative industry,” said Dr. Patrick Wang, Chairman and CEO of Johnson Electric.
“Our engineering center in Dresden, Germany, is in close proximity to Zwickau. This will enable close collaboration with the highly skilled Pendix team. We’re excited about expanding into the e-bike sector, and by doing so we hope to create a more sustainable future for personal mobility,” added Austin Wang, Senior Vice President of Johnson Electric.
All Pendix founders, who started the company in 2013, will remain shareholders of Pendix and continue in their active management roles to lead the business growth plans.
“We are extremely pleased to join such a reputable company as Johnson Electric and are convinced that our common passions for innovation and engineering perfection together with a strong cultural fit are a great foundation for reaching the next level of success,” commented Thomas Herzog, co-founder and CEO of Pendix GmbH.