ARQIS has advised RENK Aktiengesellschaft, a portfolio company of private equity investor Triton, on the acquisition of the Combat Propulsion Systems business (CPS), including Magnet-Motor GmbH (MM) from L3Harris Technologies Inc.
When the acquisition is completed, RENK will be a globally leading developer and supplier of combat mobility solutions with key operations in Europe and the USA, while combining state-of-the-art technologies of RENK, the previously acquired Horstman Group, CPS and MM.
CPS is a well-established supplier of transmissions and engines in the US and international armoured vehicle market. It is a leading player to meet the current and future needs of the US Army. By leveraging this footprint and its existing 350 employees through additional technology solutions from RENK, CPS can expand its leading position with international armed forces.
Read more at Private Equity Wire
