Westport to divest its light-duty business

1 April 2025

Westport Fuel Systems announced the sale of its Westport Fuel Systems Italia light-duty operations to Heliaca Investments Coöperatief-an investment firm backed by Dutch private equity group Ramphastos Investments Management. The light-duty unit includes the light-duty OEM, delayed OEM, and independent aftermarket businesses.

The transaction provides for a base purchase price of $73.1 million (€67.7 million), subject to certain adjustments, and potential ‘earnouts’ of up to an estimated $6.5 million (€6.0 million), in accordance with the terms of the agreement.

Moving forward, Westport intends to concentrate fully on providing engine fuel systems and components for ‘hard-to-decarbonize’ mobility and industrial applications, centered around Westport’s HPDI technology and its Cespira joint venture with the Volvo Group.

The proceeds from the transaction are expected to enable Westport to significantly improve its financial stability, the company said in a press release. Westport’s revenue for 2024 totaled $302.3 million, down 9% from $331.8 million in 2023.

The transaction is subject to shareholder approval and other customary closing conditions and is expected to close in late Q2 of 2025.

Source: Westport