Swanson Industries Acquires TransAxle's Off-Highway Business

Turnspire Capital Partners Acquires Swanson Industries and Tiefenbach North America

June 6, 2024

Industrial Services

Turnspire Capital Partners LLC (through an affiliate) has acquired Swanson Industries, a Morgantown, West Virginia–headquartered provider of manufacturing, remanufacturing, repair, and distribution services for mining equipment and hydraulic cylinders. The transaction includes Swanson’s controlling stake in Tiefenbach North America and is intended to support operational improvements, capability expansion, and strategic growth under Turnspire’s partnership with management.

Allison Transmission Acquires Dana's Off-Highway Business for $2.7B

January 1, 2026

Manufacturing

Allison Transmission Holdings, Inc. completed the acquisition of the Off-Highway Drive & Motion Systems business of Dana Incorporated for $2.7 billion, creating a combined enterprise with expanded product offerings and global reach. The divestiture provides Dana with proceeds to reduce debt and return capital to shareholders while Allison gains scale, new end-market exposure (agriculture, construction, mining) and expected synergies and immediate accretion to earnings.

TruckPro (via Crane Carrier Canada) Acquires Transaxle Parts

June 25, 2024

Logistics & Distribution

TruckPro, through its wholly‑owned subsidiary Crane Carrier (Canada) Limited, acquired the Transaxle Parts group of companies, expanding TruckPro's heavy‑duty truck and trailer parts distribution and repair footprint in the Greater Toronto Area. Transaxle operates five locations in the Toronto, Ontario market; Transaxle owners Tom Neelin and Gary Zwygers will continue to lead day‑to‑day operations following the acquisition.

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.

Bain Capital Invests in RSB Transmissions

September 17, 2024

Automotive

Bain Capital has entered into a strategic partnership and made a growth investment in RSB Transmissions, a family-owned Indian manufacturer of automotive and off‑highway drivetrain components. The investment will support RSB's organic growth, global expansion and pursuit of strategic M&A opportunities while the founders and management remain engaged; the transaction is subject to regulatory approvals.

Motion & Control Enterprises Acquires Swanson Flo

February 4, 2021

Industrial Services

Motion & Control Enterprises (MCE), a Frontenac-backed supplier of fluid power and lubrication solutions, has acquired Swanson Flo, Co., a regional distributor of process instrumentation, flow control valves, actuators and related services. Swanson Flo (92 employees) will continue to operate under its name and leadership from its Plymouth, Minnesota headquarters with four warehouse locations; the deal expands MCE's flow control capabilities and geographic footprint in the Upper Midwest.