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

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.

Auxo Investment Partners Acquires Avon Machining

June 5, 2023

Manufacturing

Auxo Investment Partners, via its Michigan Opportunity Fund, has acquired Avon Machining, a Shelby Township, Michigan-based precision manufacturer of gears, transmission parts, bearings, housings, and axle shafts. The deal serves as the fund's fourth platform investment and is intended to support Avon’s growth while preserving local ownership and addressing founder/family succession planning.

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.

Allison Transmission Acquires Walker Die Casting and C&R Tool

September 16, 2019

Manufacturing

Allison Transmission acquired Walker Die Casting Inc. (Lewisburg, TN) and C&R Tool and Engineering, Inc. (Muscle Shoals, AL) in September 2019 to bring critical die-casting and tooling capabilities in-house. The purchases strengthen Allison's supply chain and manufacturing capabilities for transmission and powertrain components; the combined deal value was reported at approximately $103 million.

Toromont Industries Acquires 60% Stake in AVL Manufacturing Inc.

February 3, 2025

Manufacturing

Toromont Industries Ltd. has acquired a 60% ownership stake in AVL Manufacturing Inc., a Hamilton, Ontario-based designer and fabricator of power generation and energy storage enclosures that serves the data centre market across eastern North America. The purchase was paid in cash and Toromont shares, and Toromont has committed to buying the remaining 40% by agreed dates through 2031 based on performance; the acquisition secures supply for Toromont Power Systems and is not expected to have a material near-term impact on combined results.

TerraVest Industries Acquires Advance Engineered Products

April 2, 2024

Manufacturing

TerraVest Industries Inc. has entered into an agreement to acquire Advance Engineered Products, a Regina-based manufacturer and service provider in the tank trailer industry. The seller is Ironbridge Equity Partners (with management participation); financial terms were not disclosed. TerraVest said Advance is complementary to its existing tank trailer businesses and will expand its product and service offerings.