Alantra advises DEUTZ on the sale of its subsidiary Torqeedo to Yamaha Motor

Jan 2024

Sell-side advisory

Germany – Alantra, the independent global mid-market financial services firm, has acted as an exclusive M&A advisor to DEUTZ AG (“DEUTZ”) on the sale of its subsidiary Torqeedo GmbH (“Torqeedo”), an industry pioneer and a leading global provider of marine electric propulsion systems, to Yamaha Motor. The proceeds from the sale amounted to a high double-digit million-euro figure. The transaction is subject to customary merger clearance approvals.

Founded in 2005 in Starnberg and headquartered in Weßling, Germany, Torqeedo is a pioneer in electric mobility on water. The company has revolutionized the boating industry across the globe with its state-of-the-art “Made in Germany” electric marine propulsion systems and advanced battery technology. Recognized as the undisputed technology and innovation leader, Torqeedo’s extensive product portfolio features a broad range of industry-leading electric outboard motors, inboard motors, and hybrid systems, all integrated with cutting-edge, high-performance lithium batteries. These products cater to recreational boating, semi-professional yachting, and commercial shipping. With approximately 230 employees, Torqeedo generated revenues of approximately €35m in the first nine months of FY2023.

Dr. Sebastian C. Schulte, CEO of DEUTZ, commented: “The technology transfer, which was the initial goal we pursued when acquiring Torqeedo, has been achieved. In terms of market knowledge and scaling options, other partners are now better suited for Torqeedo on its way forward. We are pleased to have found such a strategic partner in Yamaha. For Torqeedo, the resulting change is a great opportunity. For DEUTZ, it is an important step towards repositioning our green division. We would also like to take the opportunity to thank the Alantra team for its support and continuous advice across all stages of this transaction. Alantra’s close involvement and hands-on mentality have been instrumental in steering this process to success.”

Fabian Bez, CEO of Torqeedo, added: “In partnership with DEUTZ, we have successfully sustained our growth trajectory, solidifying our position as the market leader in electric marine propulsion. The new partnership with Yamaha Motor Co., Ltd, a highly experienced player within the marine industry, marks a pivotal step forward in our mission to push the boundaries of electric mobility on the water.”

Juan Carlos Montoya, Managing Director at Alantra’s Frankfurt office, highlighted: “It was a pleasure to support DEUTZ and the management of Torqeedo during this journey. We greatly value the exceptional collaboration and unwavering dedication demonstrated by all teams in completing such a remarkable transaction. This achievement stands as a true testament to our collective effort and team spirit. We strongly believe that Torqeedo has a bright future ahead and will play an instrumental role in accelerating Yamaha’s efforts to achieve carbon neutrality in the marine industry. This transaction uniquely highlights Alantra’s strong expertise in the Energy Transition sector.”