Meritor, Inc. announced that it has acquired the product portfolio and related technologies of Fabco Holdings, Inc. and its subsidiaries. Terms of the transaction were not disclosed.
With the addition of Fabco's suite of products, Meritor will have an expanded portfolio of complementary products, including transfer cases, specialty gear boxes, auxiliary transmissions and power take off units (PTOs) for medium, heavy and extra heavy vehicles for on- and off-highway, construction, defense, rail and other industrial applications. These products are available to both OE and aftermarket customers.
"Acquiring this suite of products and technologies provides Meritor with new products and customers in important markets that we expect will contribute to significant growth in our Specialty, Defense and Off-Highway business units," said Jay Craig, CEO and president. "This transaction fits well with our plan to pursue strategic growth initiatives, while maintaining a balanced approach to capital allocation as part of our M2019 plan."