One Equity Partners, a middle market private equity firm has completed the acquisition of Walterscheid Powertrain Group, a provider of original equipment and aftermarket parts and services for off-highway powertrain applications, from GKN Limited. Financial terms were not disclosed. OEP will partner with the management team of Walterscheid, led by CEO Wolfgang Lemser, to establish the Company as an independent business, ensure continuity for customers, suppliers and employees, and to invest in the Company’s continued growth. Walterscheid expects no changes to daily operations as a result of the transaction. “We look forward to supporting CEO Wolfgang Lemser and his team as they continue to manufacture superior powertrain solutions and provide the best in-service support to the world’s leading off-highway and industrial original equipment manufacturers. Walterscheid is a highly-regarded business that continues to execute on its growth strategy and deliver exceptional products and services to customers in the agricultural, construction, mining and industrial industries,” Joseph Huffsmith, OEP Managing Director.