Allison Transmission Holdings Completes Acquisition of Dana’s Off-Highway Drive & Motion Systems Business

Swanson Industries Acquires TransAxle's Off-Highway Business

June 26, 2025

Industrial Services

Swanson Industries, a portfolio company of Turnspire Capital Partners, has acquired the Off-Highway Business of TransAxle Holdings, LLC. The acquired business — a U.S.-based remanufacturer of transmissions, differentials, hydraulics, axles and brake systems with locations in Pennsauken, New Jersey and Garner, North Carolina — will be rebranded as the Swanson Off-Highway division to expand Swanson's capabilities and service capacity in core end markets such as mining, construction and aerospace.

Allison Transmission Acquires AVTEC's Off-Highway Transmission Portfolio and MEPZ Machining Business

March 31, 2022

Automotive

Allison Transmission has completed the acquisition of AVTEC Ltd.'s off-highway transmission portfolio and the Madras Export Processing Zone (MEPZ) off-highway component machining business for $23 million in cash. The purchase transfers the off-highway transmission assets from India-based AVTEC (part of the CK Birla Group) to Allison, supporting Allison's product and geographic expansion in the off-highway segment and integrating machining operations into Allison's Chennai plant.

ATC Drivetrain Acquires H.L. Smith Transmissions Ltd

August 17, 2021

Automotive

Farmington Hills-based ATC Drivetrain has acquired H.L. Smith Transmissions Ltd (HLS), a UK-based remanufacturer of heavy-duty commercial vehicle transmissions and steering systems. The deal adds HLS’s 85,000 sq. ft. remanufacturing facility and expands ATC’s geographic reach, capabilities and access to commercial vehicle and military end markets in Europe; the seller Russell Smith will retire following the transaction.

TruckPro Acquires Young's Gear Denali Drivelines

April 4, 2022

Trucking & Fleet

TruckPro, a Memphis-based distributor of heavy-duty truck and trailer parts, acquired the assets related to Young's Gear Denali Drivelines, a driveline, drivetrain and suspension repair shop in Fairbanks, Alaska, owned by Daryl and Joy McGhan. The deal strengthens TruckPro's footprint and service capabilities in Alaska and provides local customers access to TruckPro's broader product offerings and nationwide distribution network.

American Axle & Manufacturing to Acquire Dowlais in ~$1.44 Billion Cash-and-Stock Deal

January 30, 2025

Industrial Services

American Axle & Manufacturing Holdings (AAM) announced a recommended cash and share offer to acquire Dowlais Group plc for approximately $1.44 billion. The combined company is expected to generate about $12 billion in annual revenue and create a leading global driveline and metal-forming supplier with powertrain-agnostic technology and $300 million in synergies.

Applied Industrial Technologies Acquires Hydradyne, LLC

November 22, 2024

Industrial Services

Applied Industrial Technologies has signed a definitive agreement to acquire Hydradyne, a leading U.S. fluid power and motion control distributor. The acquisition expands Applied’s Engineered Solutions capabilities and Southeastern U.S. footprint; Hydradyne’s ~500 associates across 33 locations are expected to contribute about $260 million in sales and $30 million in EBITDA before synergies.