TROY, Mich. (July 29, 2019) ̶ Meritor, Inc. (NYSE: MTOR) today announced that it has successfully completed its acquisition of AxleTech from global investment firm The Carlyle Group (NASDAQ: CG).
The previously announced transaction enhances Meritor’s growth platform with the addition of a complementary product portfolio, including a full line of independent suspensions, axles, braking solutions and drivetrain components. AxleTech will operate within Meritor’s Aftermarket, Industrial & Trailer segment.
“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. We look forward to realizing the benefits of the transaction as we continue executing on our priorities to enhance value for our shareholders, customers and employees.”