27 December 2021

Prodrive Technologies announces minority investment by HAL

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Prodrive Technologies and HAL agree on minority investment

De Brauw has acted as lead counsel for Prodrive Technologies on reaching an agreement with HAL Investments regarding a minority investment in Prodrive Technologies. HAL will invest alongside Prodrive Technologies' two founders to support the company's ambitions. Prodrive Technologies is active in the research, development and manufacturing of high-tech electronics, software and mechatronic products and systems. The company provides solutions for, amongst others, the semiconductor, medical and electric mobility industries. Sales over the financial year 2020 amounted to € 279 million and the company employs approximately 2,075 FTE. The completion of the transaction is subject to conditions customary for transactions of this nature, including approval by the relevant competition authorities as well as finalization of the procedures under the Works Council Act.