eBike drives biz Pendix acquired by Johnson Electric

eBike drive system business Pendix has seen an 80% share buyout by Hong Kong’s Johnson Electric Group, a business that serves a broad range of industries including Automotive, Medical and Garden Equipment, to name just a few.

Pendix designs, manufactures and distributes its proprietary products. It is best known for its retrofit systems, but has over time broadened its scope to offer OEM drive systems products, announcing a modular drive system for cargo bikes only last year.

“By welcoming Pendix as part of Johnson Electric Group, we are expanding our e-mobility offering and entering the e-bike market. With Johnson Electric’s industrial scale and global reach together with Pendix’s expertise in the e-bike sector, we are positioning ourselves into a fast-growing and innovative industry,” said Dr. Patrick Wang, Chairman and CEO of Johnson Electric.

“Our engineering center in Dresden, Germany, is in close proximity to Zwickau. This will enable close collaboration with the highly skilled Pendix team. We’re excited about expanding into the e-bike sector, and by doing so we hope to create a more sustainable future for personal mobility,” added Austin Wang, Senior Vice President of Johnson Electric.

All Pendix founders, who started the company in 2013, will remain shareholders of Pendix and continue in their active management roles to lead the business growth plans.

“We are extremely pleased to join such a reputable company as Johnson Electric and are convinced that our common passions for innovation and engineering perfection together with a strong cultural fit are a great foundation for reaching the next level of success,” commented Thomas Herzog, co-founder and CEO of Pendix GmbH.