TransAxle LLC has bought New England Transmission, a Maine-based maker of light-duty transmissions. TransAxle, a New Jersey-headquartered remanufacturer of light duty transmissions, is a portfolio company of a Graham Partners buyout fund. The details of the transaction have not been released.
Graham Partners announced today that on October 1, 2010, TransAxle LLC, a portfolio company of Graham Partners’ 2005 vintage year middle market buyout fund acquired New England Transmission, a regional remanufacturer of light duty transmissions with locations in Portland and Bangor, Maine.
This acquisition significantly expands TransAxle’s presence in the light duty transmission market.
TransAxle (www.transaxle.com) is one of the largest East Coast remanufacturers of transmissions, differentials, hydraulic pumps and other specialized components for medium and heavy-duty trucks, as well as off-highway equipment. As a strategic growth initiative, TransAxle entered the light duty transmission market several years ago. The addition of New England Transmission adds scale to TransAxle’s platform, provides an opportunity for TransAxle to expand its service and delivery footprint geographically, and enhances its customer service and remanufacturing capabilities.
New England Transmission’s locations will be added to TransAxle’s existing branch line-up, increasing TransAxle’s captive network to a total of 21 branches along the Eastern Seaboard. In conjunction with this transaction, the New England Transmission Team remains intact and will continue to remain actively involved as part of TransAxle’s Team going forward, with former owner, Mark Pelkey, joining in an executive role as General Manager – Light Duty Transmission. New England Transmission brings unequivocal in-house Light Duty expertise with an established presence and branded name in the light duty transmission market, further extending TransAxle’s core competitive advantage related to product and service breadth within the overall truck aftermarket.
About Graham Partners (www.grahampartners.net): Graham Partners is a leading, lower middle market industrial private equity firm based in suburban Philadelphia with over $1.5 billion under management. Graham Partners is sponsored by the privately held Graham Group of York, Pennsylvania, an industrial and investment concern with global interests in plastics, packaging, machinery, building products and outsource manufacturing. Graham Partners seeks to acquire manufacturing and related service companies with revenues between $30 million and $500 million that participate in niches where it can leverage its unique combination of operating resources and financial expertise.
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