Deal Details

Sale to Nidec Corporation

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Summary

About

Sole Motors (the “Company”) has been acquired by Nidec Techno Motor Holdings Corporation (“NTMC”), a subsidiary of Nidec Corporation. Sole Motors incorporates the household motor business of Appliances Components Companies S.p.A. (“ACC”). Terms of the transaction were not disclosed.

Sole Motors is a leading global provider of electric motors for household appliances. Headquartered in Pordenone, Italy, with manufacturing facilities in Italy and Hungary, Sole Motors designs, manufactures and markets electric motors for wet household appliances including washing machines, dishwashers and dryers. The Company offers a high-quality product portfolio comprising a broad range of asynchronous, universal and controlled induction motors. Sole Motors serves global wet household appliance manufacturers, including Electrolux, Whirlpool, Indesit and Bosch.

Nidec Corporation (NYSE:NJ), headquartered in Kyoto, Japan, is one of the world’s largest manufacturers of precision electric motors and is quoted on the Tokyo, Osaka and New York stock exchanges. NTMC plans to bring Sole Motors under its umbrella alongside its subsidiary Nidec Shibaura’s household motor business in order to leverage Sole Motors’ strong market position and customer relationships in Europe.

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