NaturalDrive provides CNG and LPG conversion systems across multiple US fleet vehicle platforms.
The $6m deal comprises $4.5m in cash and $1.5m of Fuel Systems’ stock to be paid at closing.
The transaction is expected to close by next month and is subject to customary closing conditions.
After closing, NaturalDrive will be integrated into IMPCO’s US automotive division.
Fuel Systems co-president and IMPCO operations head Matthew Beale said the transaction brings marketing and engineering depth to the company’s North American team that will enhance its ability to develop leading edge solutions for its OEM and fleet customers.
Fuel Systems is a designer, manufacturer and supplier of cost-effective alternative fuel components and systems for use in transportation and industrial applications.
