IDEA Institute acquired by Quantum Kapital

Turin-based automotive design, modeling and engineering firm IDEA (Institute of Development in Automotive Engineering) has been sold to Quantum Kapital AG, an investment company with an industrial emphasis based in St. Gall, Switzerland. The transaction is expected to be completed in the next few weeks.

Founded in 1978, IDEA was acquired by The Rieter Holding group in 2002 and became part of Rieter's Automotive Systems division. But Reiter has now decided to sell the design and engineering company to industrial investor Quantum, which will acquire the main headquarters in Italy as well as the branch office in China and the firm's activities in Brazil.

According to a press release issued by Reiter, the company claims Quantum is 'ideally suited to ensure the sustainable development of the business.'

Credited with the designs of numerous Fiat, Alfa Romeo and Lancia programs as well as models for Diahatsu and Daewoo, IDEA also developed the Era and Sofia concepts shown at the 2008 and 2010 Geneva motor shows, respectively.

IDEA currently has 155 employees, 130 of whom are based in Italy. While most of the firm's clients are European, numerous contracts have been handled for automobile manufacturers in the emerging economies in recent years, most notably the diminutive 'one-lakh' Nano, created for Indian automaker Tata.

By Eric Gallina