Workhorse Group Inc.
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Workhorse Group Inc. - overview
Established
2007
Location
Loveland, OH, US
Primary Industry
Retail
About
Workhorse Group Inc. specializes in manufacturing zero-emission electric vehicles primarily for commercial applications, focusing on providing sustainable transportation solutions for businesses engaged in logistics and delivery. Founded in 2007, Workhorse Group Inc. is headquartered in Loveland, US.
The company designs and produces electric delivery vehicles, including the W56 work truck and the W750 step van. CEO Duane Hughes leads the company, which pivoted towards electric vehicle manufacturing to meet growing market demands. Workhorse had one significant deal in January 2019, marking its expansion in the electric vehicle sector. Workhorse manufactures a range of reliable zero-emission electric vehicles designed for commercial use.
Their offerings include the W56 work truck and the W750 step van, featuring advanced electric components aimed at enhancing productivity and efficiency in last-mile delivery services, targeting logistics clients in the US. In the most recent year, Workhorse reported a revenue of USD 6. 62 mn and an EBITDA of USD -65. 98 mn, reflecting the company's ongoing investments in product development and market expansion.
Workhorse aims to introduce new electric vehicle models and enhance existing ones to further penetrate the commercial market. The company is exploring expansion into additional markets across North America, leveraging recent funding from a deal finalized in January 2019 to support these initiatives.
Primary Industry
Retail
Sub Industries
Automobile Dealerships
Website
www.workhorse.com
Verticals
Manufacturing
Total Amount Raised
Subscriber access only
Workhorse Group Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Private Debt | Completed | Workhorse Group Inc. | - |
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