Meritor Inc. announced that it has completed its acquisition of AxleTech from investment firm The Carlyle Group.
The transaction is aimed at enhancing Meritor’s platform with the addition of a complementary product portfolio, including a full line of independent suspensions, axles, braking solutions and drivetrain components.
“The addition of AxleTech advances our growth strategy while further diversifying our portfolio in strategic, adjacent markets,” said Jay Craig, Meritor's CEO and president. “We are delighted to welcome AxleTech to the Meritor team with a shared focus on driving superior performance, efficiency and reliability for our global customers with a wider array of products and solutions.”
AxleTech will operate within Meritor’s Aftermarket, Industrial & Trailer segment.