Meritor completes acquisition of AxleTech
TROY, Mich. ̶ U.S. drivetrain supplier Meritor said Monday it has successfully completed its acquisition of AxleTech from The Carlyle Group.
The previously announced transaction enhances Meritor’s growth platform with the addition of a complementary product portfolio, the company said. The deal was worth about $175 million.
“The addition of AxleTech advances our growth strategy while further diversifying our portfolio in strategic, adjacent markets,” said Jay Craig, Meritor’s CEO and president.
AxleTech, which generated $248 million in revenue in calendar year 2018, will operate within Meritor’s aftermarket, industrial and trailer segment.
Based in Troy, Mich., Meritor employs more than 9,000 people in 19 countries.
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