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Allison Transmission Acquires Vantage Power, AxleTech Electric Vehicle Systems Division
Wednesday 24 April 2019

24 April 2019 - Indiana, US-based automatic transmissions manufacturer Allison Transmission Holdings Inc. (NYSE: ALSN) has purchased the electric vehicle systems division of London, UK-based technology company Vantage Power and Michigan, US-based axle solution manufacturer AxleTech, the company said.

Terms of the transaction were not disclosed.

Allison Transmission said through this and other growth initiatives, the company will continue to build upon its conventional and electric hybrid products while differentiating itself in the electrification and fuel cell markets.

AxleTech is a leading technology company that designs, engineers, manufactures, sells and services axles and integrated electrified axle solutions for on- and off-highway heavy-duty commercial vehicles.

With industrial roots established in 1919, the company's nearly 800 worldwide employees drive the company to develop advanced powertrain systems, axles, components and aftermarket parts for global customers.

The EV systems division is located at AxleTech's headquarters in Troy, Michigan.

Vantage Power specialises in developing electrified propulsion and connected vehicle technologies for medium- and heavy-duty vehicle manufacturers and their suppliers.

AxleTech engineers, designs, manufactures, sells and services powertrain solutions for on-and off-highway heavy-duty commercial vehicles.

Allison Transmission (NYSE: ALSN) is a manufacturer of fully automatic transmissions for medium- and heavy-duty commercial vehicles. Allison transmissions are used in a variety of applications including refuse, construction, fire, distribution, bus, motorhomes, defense and energy.
Details
Date Published: 24/04/2019
Target: Vantage Power (UK)/ electric vehicle systems division, and AxleTech (USA)
Country: USA
Sector: Motor Vehicles
Type: Corporate acquisition
Financing:
Status: Closed
Vendor: Vantage Powe
Buyer: Allison Transmission Holdings
Comment:
Terms of the deal were not disclosed

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