Quick Take
Meritor (MTOR) announced it has agreed to acquire AxleTech for $175 million.
AxleTech has developed a portfolio of powertrain components for on- and off-highway heavy-duty commercial vehicles.
With the deal, MTOR seeks to expand into adjacent markets and diversify its portfolio of products as part of its “M2022” strategy.
Target Company
Troy, Michigan-based AxleTech was founded in 2002 to engineer, design, manufacture or remanufacture and market powertrain components for specialty trucks, military vehicles, and off-highway heavy-duty machines under the brands Torq-Line, truck Trailer Transit, and US Gear.
Management is headed by