Crossplane Capital announced Monday it has partnered with management to acquire TransAxle LLC from Graham Partners.
Headquartered in Cinnaminson, N.J., TransAxle is a national distributor of mission critical drivetrain components that supports trucking companies and service providers on a same-day and next-day basis. Founded in 1979, the company has 28 distribution centers and six centralized remanufacturing facilities.
“Over the past three years, TransAxle has invested in a nationwide distribution footprint, entered multi-year partnerships with key distribution partners and launched the newest drivetrain families of products,” says Dave Olsen, CEO, TransAxle. “We look forward to working side-by-side with Crossplane to continue investing in TransAxle’s capabilities to make the company the go-to source for aftermarket drivetrain components.”
TransAxle is known for its focus on quality, nationwide availability and cost competitiveness, and Crossplane Capital Partner Ben Eakes says his company believes the business is a “unique, one-stop solution to today’s critical transportation infrastructure.
“We are excited to partner with the TransAxle team to drive continued growth and expand the company’s national market presence and product offering,” he says.
“It’s been a pleasure to work closely with the TransAxle team to transform the business during our ownership. We wish them continued success while working with Crossplane,” adds Rob Newbold of Graham Partners.
Akin Gump Strauss Hauer & Feld LLC served as legal counsel to Crossplane, and Dechert LLP served as legal counsel to TransAxle with respect to the transaction.
