Douglas Acquisitions has acquired Lake Forest, California-based Quantum Fuel Systems Technologies, a provider of compressed natural gas fuel systems. No financial terms were disclosed.
LAKE FOREST, Calif., July 22, 2016 /PRNewswire/ — Quantum Fuel Systems Technologies, an industry leader in CNG (compressed natural gas) fuel systems for the automotive and heavy-duty industry, has been acquired by Douglas Acquisitions LLC. The transaction, initiated in April of this year, was just finalized.
Effective immediately, the acquired company will be known as Quantum Fuel Systems LLC, a company wholly owned by Douglas, a family-owned $1 billion private equity firm based in Northern California. Going forward, Quantum will continue to provide its industry leading CNG technology while being financially positioned to continue to grow its business operations. According to a Quantum spokesperson, immediate enhancements are expected in customer service, support and product offerings.
Since 2013, Quantum (based in Lake Forest, CA) has seen rapid growth, earning a market share in excess of 40% for over-the-road CNG heavy duty vehicles in North America. This was accomplished through a portfolio of CNG storage system products that includes Q-Cab™ back-of-cab storage modules and the Q-Rail™ storage modules that are installed horizontally on the rails of heavy-duty trucks. These product lines are extremely weight efficient and provide the highest storage capacity available in the industry.
Quantum is also commercializing its innovative virtual pipeline trailer (available in 500 and 650 thousand Standard Cubic Feet of Storage), a high-capacity transport trailer that optimizes the logistical efficiency of transporting CNG (and other gaseous fuels) by utilizing its proprietary Q-Lite™ CNG storage tanks at 5,000 PSI. The virtual pipeline trailer will debut later this year.
The Quantum acquisition expands Douglas’ portfolio of automotive investments. Since 1976, Douglas has owned KSR International, Inc., an industry leader in the design, engineering and manufacture of an array of products for the transportation industry (autos, light trucks, ATVs), including automotive sensors, electronic throttle controls, adjustable and fixed pedals, electric steering control units and power modules. KSR has annual revenues of $300 million.
In 2015, Douglas provided funding for KSR, based in Ridgetown, ON, to acquire a UK-based manufacturer of electronic power modules for the automotive industry. That acquisition was merged into KSR to streamline marketing, sales and product development while enhancing KSR’s go-to-market strategy for its customers that include OEMs and Tier One automotive suppliers globally.
In 2014, Douglas authorized KSR’s formation of a consortium that launched Alternative Fuel Containers, LLC. AFC’s goal is to develop natural gas storage tanks to minimize refueling time and maximize miles driven per tank. The AFC tank design is based on using MOF (metal organic framework) adsorbent to capture natural gas at the molecular level.
About Quantum Fuel Systems LLC
Quantum Fuel Systems LLC is engineering the future of CNG storage by designing, developing and bringing innovative gas transport trailers and heavy duty truck fuel storage systems to the market. Quantum is at the forefront of the industry with decades of experience in gaseous fuel storage and systems solutions. Learn more at www.qtww.com.
About KSR International, Inc.
Since 1946, KSR has worked closely with OEMs and Tier One suppliers, providing a variety of products that are designed, engineered and manufactured to exacting specifications. With 12 locations across three continents the company’s goal is to provide products and services that meet or exceed customer expectations. Learn more at www.ksrint.com.