Turnspire Capital-backed Swanson Industries completed the acquisition of off-highway business from TransAxle.

Turnspire Capital-backed Swanson Industries, a provider of distribution services, completed the acquisition of off-highway business from TransAxle, a provider of remanufactured drivetrain and hydraulic components. Financial terms were not disclosed. “Our strategic acquisition of the Off-Highway Business will enable us to capitalize on many overlaps and potential synergies between our offerings, customers and end markets. The Off-Highway Business has developed a truly differentiated breadth of technical expertise and a strong reputation in its end markets. We are very excited to welcome the Off-Highway Business’ talented employees and to work together to further strengthen Swanson’s leading market position by expanding our reach and capabilities,” David Brightbill, Swanson CEO.