Merito completed the acquisition of Axle Tech from The Carlyle Group for $175m.

Merito, a supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, completed the acquisition of Axle Tech, a manufacturer and supplier of drivetrain systems and components, from The Carlyle Group, for $175m. "The addition of AxleTech is a compelling value-creating opportunity to broaden our position in attractive, adjacent markets and advances our M2022 strategy. Meritor's technical expertise, operational excellence and proven track record will be a powerful platform to accelerate growth. Our product portfolios are highly complementary and we share a commitment to our people and customers. We look forward to realizing the full benefits of the transaction by serving as a premier supplier to our global customers and enhancing shareholder value," Jay Craig, Meritor's CEO and President.