On December 12, 2016, Tandem Expansion Fund announced the sale of Vancouver based Delta-Q Technologies Corporation to Italian company Zapi S.p.A. Delta-Q was founded in 1999 and has been owned by Tandem for 6 years.Delta-Q is a leading manufacturer of on and off-board industrial battery chargers for lead acid and lithium-ion batteries. More than 1.6 million electric vehicles and industrial machines use their products.
Delta-Q sells mainly to OEMs, battery suppliers and aftermarket markets. The demand for their products continues to expand. This is powered by the global demand for electric vehicles and equipment. Zero emission, low maintenance and high performance of electric vehicles further fuel this demand.
Tandem Expansion is a Canadian growth fund which supports the scaling of Canadian companies. They have a wide array of technology markets including industrial, software, hardware, digital media, cloud computing, mobile, virtual reality and energy. Tandem Expansion companies have annual revenue in excess of $380 million.
Zapi S.p.A is the parent company of ZAPI Group, whose businesses are involved in electric and electronic control for many electric vehicle segments. ZAPI Group companies manufacture electronic controllers, inverters, electric machines and battery chargers. Their annual revenue is expected to exceed $400 million this year.