Troy, Michigan – AxleTech International announced today that it has acquired Chicago-based U.S. Gear, a global leader in the design and manufacture of specialized differential gears. The U.S. Gear acquisition broadens AxleTech’s technology portfolio to include helical, planetary, and milled bevel gearing intellectual property in addition to strengthening its full systems drivetrain capability.
Mary Petrovich, CEO of AxleTech International, said, “AxleTech is already a market leader in planetary axles, independent suspensions, transfer cases, and brakes. We now add gear capability that is critical to the performance of our customers’ highly engineered, specialized vehicle applications. Given the integral importance of gear manufacturing and development to our business, this acquisition will help us better serve AxleTech customers across all segments worldwide. We are proud that numerous mission-critical military applications already rely on the proven expertise of U.S. Gear products. The acquisition also fits perfectly with our strategy to grow AxleTech’s Aftermarket presence across the Commercial On-Highway and Bus/Transit markets.”
Mark Garfein, President of U.S. Gear, emphasized the synergies between the two businesses. “U.S. Gear is excited to join the AxleTech team and drive even more aggressive business development. As evidenced by our major industry-leading customers including Eaton, Dana, and ArvinMeritor, U.S. Gear is renowned for delivering technical solutions that meet OE standards with the highest quality and customer service. We look forward to providing all of our customers with the distinct benefits that AxleTech can now offer with the addition of U.S. Gear technology.”
Bill Gryzenia, Vice President of Aftermarket Business Development, said, “With the recently completed acquisition of TTT, which has enabled AxleTech to win numerous commercial and military brake awards, we now look forward to the same level of penetration with a complete gear offering that is second to none.”
About AxleTech
AxleTech International is a global manufacturer and supplier of axles, axle components, planetary axles, independent suspensions, brakes and aftermarket parts for commercial specialty trucks, military vehicles and off-highway machines used in the construction, material handling, forestry, mining and agricultural markets. The company was created to enable a singular focus on the needs of off-highway and specialty vehicle customers by providing high quality products and unparalleled customer service. The Carlyle Group- owned company has its origins as the off-highway division of Rockwell (now ArvinMeritor). Visit www.axletech.com for additional information.
About The Carlyle Group
The Carlyle Group is a global private equity firm with $91.5 billion of assets under management committed to 66 funds as of September 30, 2008. Carlyle invests in buyouts, growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. Since 1987, the firm has invested $52.7 billion of equity in 870 transactions for a total purchase price of approximately $225.8 billion. The Carlyle Group employs more than 1000 people in 21 countries. In the aggregate, Carlyle portfolio companies have more than $109 billion in revenue and employ more than 415,000 people around the world. www.carlyle.com
