The Carlyle Group said Tuesday it has sold its remaining 2.7 million shares in Allison Transmission. Carlyle and Onex Corp. acquired Allison Transmission in August 2007. Allison Transmission, an auto-parts makers, went public in 2012.
Washington, DC – Global alternative asset manager The Carlyle Group L.P. (NASDAQ: CG), announced today it has sold its remaining 2.7 million shares in Allison Transmission (NYSE: ALSN). Carlyle partnered with Onex Corporation and management to purchase Allison Transmission from General Motors in August 2007.
“Allison Transmission is a remarkable company and one of the best industrial businesses in the world,“ said Greg Ledford, Managing Director and head of Carlyle’s Industrial & Transportation team. “We are happy to have played a role in the company’s transition from a division of General Motors to a world-class independent company. Onex and management, led by CEO Larry Dewey, have been great partners over the past seven years. In addition to creating substantial value for investors, we are proud that this partnership led to significant investment in new technologies and the international expansion of the business. We wish both of our partners continued success.”
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $203 billion of assets under management across 126 funds and 139 fund of funds vehicles as of June 30, 2014. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,600 people in 40 offices across six continents.