I am pleased to announce that The Carlyle Group has decided to partner with Wynnchurch Capital and has signed a purchase agreement to acquire a majority interest in AxleTech International. The deal is expected to close at the end of October.
Wynnchurch will remain an active investor and a member of our Board of Directors. Carlyle is one of the world’s largest and most experienced private equity firms, with $30 billion in investments under management. Of particular benefit to AxleTech will be Carlyle’s extensive network of strategic relationships and industry contacts. Carlyle has tremendous knowledge of both the military and industrial markets, which will be helpful to the continued success of AxleTech. Recent Carlyle investments include Hertz, as well as ownership of Grand Vehicle Works (Workhorse recreational vehicle/specialty vehicle chassis brand) and United Defense.
All of us should be proud that a firm with the reputation, leadership, and performance of Carlyle has decided that AxleTech is an attractive investment and growth platform. We have come a long way in less than three years. We also have so much more potential to realize. Carlyle is committed to leading us to greater heights.
Thank you for your many contributions to date…and your continued support which will allow us to reach our potential together.
AxleTech International is one of the world's leading designers and manufacturers of drivetrain components, systems,
and aftermarket parts serving the commercial, industrial, construction, agricultural, mining, forestry and military
vehicle markets. We are a leading supplier of heavy-duty off-road planetary axles, high-mobility vehicle hub reduction
axles, independent suspensions, transfer cases and brakes to OEMs on every continent. AxleTech is a privately owned
company with origins as the North American off-highway and European specialty division of Rockwell International.
AxleTech is headquartered in Troy, Michigan, U.S.A.