Crossplane Capital Announces Equity Investment in TransAxle
DALLAS, Jan. 7, 2020 /PRNewswire/ -- Crossplane Capital (“Crossplane”), a Dallas-based private equity firm, is pleased to announce that it has acquired TransAxle LLC (“TransAxle” or the “Company”). Founded in 1979 and headquartered in Cinnaminson, New Jersey, TransAxle is a national provider of mission critical drivetrain components that supports trucking companies and service providers on a same day / next day basis. With 28 distribution centers and 6 centralized remanufacturing facilities, TransAxle is known for its focus on quality, nationwide availability and cost competitiveness.
“With its market leading position as a value-added aftermarket distributor and remanufacturer of heavy-duty truck transmissions and differentials to customers nationwide, we believe TransAxle is a unique asset,” said Ben Eakes, Partner of Crossplane Capital. “We look forward to working alongside the TransAxle team to drive continued growth and expand the Company’s national market presence and product offering.”
Dave Olsen, CEO of TransAxle, commented, “Over the past three years, TransAxle has invested in a nationwide distribution footprint, entered multi-year partnerships with key distribution partners and launched the newest drivetrain families of products. We look forward to working side-by-side with Crossplane to continue investing in TransAxle’s capabilities to make the Company the go-to source for aftermarket drivetrain components.”
“With one of the largest inventories of light and heavy-duty truck transmissions, we believe TransAxle is ideally positioned to benefit from the increasing complexity of today’s drivetrain components.” said Brian Hegi, Partner of Crossplane Capital. “We are excited to partner with the TransAxle management team and employees and seek to build a best-in-class aftermarket drivetrain distributor.”
About TransAxle LLC
TransAxle, founded in 1979, is the largest east-coast remanufacturer of transmissions, differentials, hydraulic pumps and other specialized components for the medium and heavy-duty truck markets. TransAxle has developed a reputation for providing important truck components on a same day or next-day basis to minimize customer downtime. It also serves as a distributor of brake and clutch products, specialty drivetrain components and hydraulic parts to a broad range of customers. For more information, visit www.transaxle.com.
About Crossplane Capital
Launched in 2018, Crossplane Capital is a Dallas-based private equity firm that makes control investments in niche manufacturing, value-added distribution and industrial business services companies. The firm seeks to partner with lower-middle market companies to enhance financial performance and generate strategic value creation. For more information, please visit www.crossplanecapital.com.
SOURCE Crossplane Capital