Allison adds Dana off-highway business in $2.7B transaction
Allison Transmission Holdings recently completed the acquisition of the off-highway drive and motion systems business of Dana Incorporated for approximately $2.7 billion.
The combination of the two companies’ industry-leading products and advanced technologies—valued at $5.5 billion in revenue generated across sites in 29 countries—is expected to accelerate Allison’s growth and broaden its position as a global provider of commercial duty mobility and work solutions that “improve the way the world works,” Allison reported.
“We are excited to welcome our new colleagues from Dana Incorporated’s off-highway drive and motion systems business to Allison,” David Graziosi, Allison chair, president, and CEO, said in a news release. “Together, we have an expanded market reach and broader portfolio of high-quality and reliable products, creating a global platform that will continue to deliver strong financial performance from both organic and inorganic growth.
“Our talented colleagues are dedicated to helping support our customers and their end users to better capitalize on the global megatrends shaping the modern industrial world.”
The combined operation will be headquartered in Indianapolis, Indiana, and led by Graziosi, Allison said. The company will operate under the Allison name and be comprised of two business units. Allison Transmission will be led by Fred Bohley, president and business unit leader, and Allison Off-Highway Drive and Motion Systems will be led by Craig Price, president and business unit Leader. Both Bohley and Price will report to Graziosi, and Bohley will continue to serve as Allison’s chief operating officer.
“Business unit leadership will be located around the world, reflecting the global nature of the business and the importance of local insights for its customers and stakeholders,” the company stated. “Collectively, these changes allow the company to better serve an expanded customer base with more local sourcing, production, and service via a deeper pool of engineering and technological expertise.”