Cosworth and Delta Sign Agreement for Acquisition
Global technology business Cosworth and UK-based Delta are pleased to announce that an agreement has been signed that paves the way for Cosworth to fully acquire the Silverstone-based developer of battery and vehicle dynamics control systems.
Cosworth's focus on delivering propulsion, electronics and software solutions for the automotive, aerospace and marine sectors will be bolstered by the acquisition of Delta, whose specialities in the development of battery systems, in particular, align with Cosworth's roadmap for hybridisation and electrification.
Cosworth already offers its customers a key advantage thanks to its ability to design, develop and manufacture clean-sheet solutions from its state-of-the-art facilities. Acquiring Delta, with support from Cosworth's long-term partner HSBC UK, will enable the business to meet the evolving needs of its customers as they transition to hybrid, EV and fuel cell configurations.
Delta also possesses a body of patented products and intellectual property which will help Cosworth to meet the changing needs of its target markets and industries.
Founded in 2005, Delta's services range from single component design and development, through to complete concept and finished product programmes. From its base at the world-famous Silverstone Circuit, in the heart of the UK's high performance technology cluster, Delta's expertise in battery systems, control systems, electric/hybrid drivetrains, full vehicle programs, lightweight structures and simulation will augment Cosworth's existing services.
Cosworth has been working with Delta most recently on development of a new hybrid solution for the British Touring Car Championship, set to debut in 2022.
CEO of Cosworth Hal Reisiger said: “We are excited to welcome Delta to the Cosworth Group of companies as we prepare to benefit from our numerous synergies. We augment each other's capabilities, share the same passion for innovation, and the same values and culture. Successful each in our own right, together we will be extraordinary.”
Managing Director of Delta, Simon Dowson said: “Nick and I wanted to find a company who could help take the business to the next level. During this process we had already started working with Cosworth and found the culture, mindset and complementary skillset a perfect match. The Cosworth brand is synonymous with high quality performance products and I am really excited to be part of the group and to continue the growth of Delta.”