Three Firms Steer Meritor's $175M Auto Parts Maker Buy
Law360 (May 8, 2019, 1:29 PM EDT) -- Meritor said Wednesday it has agreed to buy AxleTech from the Carlyle Group in a roughly $175 million deal guided by three firms, as the auto parts maker looks to ratchet up its aftermarket, industrial and trailer segment.
Meritor Inc. said its purchase of Michigan-based AxleTech from the Carlyle Group will aid its goal of increasing sales and growth by adding AxleTech’s portfolio of off-highway, defense and other products. AxleTech engineers, designs, manufactures, sells and services powertrain solutions for on- and off-highway heavy-duty commercial vehicles.
“Meritor’s technical expertise, operational excellence and proven track record will be a powerful platform to accelerate...
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