West Virginia-headquartered Swanson Industries has acquired the off-highway business of TransAxle Holdings, a remanufacturer of transmissions, differentials, hydraulics, axles and brake systems and related industrial products for numerous off-highway verticals.
The off-highway business will be re-branded as the Swanson Off-Highway division. Swanson will provide the division with substantial additional capacity and resources, supporting its continued growth through expanded capabilities and enhanced service offerings.
Over its 46-year history, the TH Off-Highway business has built a reputation for delivering unparalleled capabilities, quality, and service. From locations in Pennsauken, New Jersey and Garner, North Carolina, it served a diverse array of customers across the hard rock mining, metals, construction, aerospace, and marine sectors, among others.
“Our strategic acquisition of the Off-Highway Business will enable us to capitalize on many overlaps and potential synergies between our offerings, customers and end markets,” said Swanson CEO David Brightbill.
“The Off-Highway business has developed a truly differentiated breadth of technical expertise and a strong reputation in its end markets. We are very excited to welcome the Off-Highway business’ talented employees and to work together to further strengthen Swanson’s leading market position by expanding our reach and capabilities.”
Freshfields LLP served as legal counsel to Swanson in the transaction. Swanson is a portfolio company of Turnspire Capital Partners.
Source: Turnspire Capital Partners