New York Stock Exchange-listed Allison Transmission Holdings has wrapped up its US$2.7 billion acquisition of Dana’s off-highway business, boosting its exposure to what it sees as growth markets.
One of those is mining, which made up only 6% of Dana Off-Highway Drive & Motion Systems’ $2.8 billion sales in 2024 but is seen to present expansion opportunities. Off-highway was 2% of Allison’s total circa-$3 billion business last year.
CEO David Graziosi said Indiana-headquartered Allison had “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 capitalise on the global megatrends shaping the modern industrial world,” he said.
Allison Off-Highway Drive & Motion Systems president Craig Price and Allison Transmission president Fred Bohley are reporting to Graziosi.
BofA Securities and KPMG were Allison’s financial and transaction advisers on the acquisition, while Latham & Watkins was its legal adviser. Legal counsel for Dana was Paul, Weiss, Rifkind, Wharton & Garrison. Its financial advisers were Goldman Sachs and Morgan Stanley.
