HES International sold
NewsHES International has been taken over by American bank Goldman Sachs and Australia’s Macquarie Group. The Rotterdam-based dry and liquid bulk terminal operator has changed hands for €2B, according to Reuters
General Dynamics to acquire AxleTech
With the support of private equity firm The Carlyle Group, General Dynamics has entered into a definitive agreement for General Dynamics to acquire AxleTech International
AxleTech is a global manufacturer and supplier of axles, axle components, planetary axles, independent suspensions, brakes and aftermarket parts for military vehicles, commercial specialty trucks, and off-highway machines used in the construction, material handling, forestry, mining and agricultural markets. AxleTech employs approximately 1000 workers worldwide.
It is based in Troy (Mi) and has US manufacturing facilities in Oshkosh, Detroit and Chicago and in France (St Etienne) and Brazil (Osasco). The deal is subject to normal regulatory approvals and is expected to close by the end of this year. AxleTech will become part of Charlotte, NC -based General Dynamics Armament and Technical Products.
“AxleTech International is a well-run company with a strong management team and a skilled workforce that offers a high-value line of quality products to a global customer base,” said Charles M. Hall, General Dynamics’ EVP, combat systems.
“We look forward to maintaining and strengthening the relationships AxleTech International enjoys with its existing customers, expanding and diversifying the technical products General Dynamics provides to customers around the world, and pursuing new markets together through collaboration among the product experts at each company.”
Just prior to the annoucment, AxleTech itself announced that it had bought Chicago-based U.S. Gear, which specialises in differential gears. The acquisition, said Axletech, broadens [our] technology portfolio to include helical, planetary, and milled bevel gearing intellectual property in addition to strengthening its full systems drive train capability.
Numerous mission-critical military applications rely on U.S. Gear products, while leading commercial customers include Eaton, Dana, and ArvinMeritor.
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