ATC Drivetrain in Farmington Hills, an independent global automotive powertrain and drivetrain systems remanufacturer, today announced the acquisition of H.L. Smith Transmissions Ltd. in the United Kingdom, an independent remanufacturer of heavy-duty commercial vehicle drivetrain and steering systems. Terms of the deal were not disclosed.
Based outside of Birmingham, England, HLS operates from an 85,000-square-foot facility that engineers and remanufactures manual and automatic transmissions, drive heads and differentials, power steering boxes, and prop shafts.
“ATC’s global depth in electronics and mechatronics combined with HLS’ expertise in commercial vehicle mechanical steering and powertrain systems provides synergies that will strengthen our market position and broaden the scope of our products and services,” says Greg Heald, president and CEO of ATC. “The transaction with HLS marks ATC’s second acquisition in the U.K. and fourth acquisition in the past two years as we continue to build out the company’s geographic reach, capabilities and end markets.”
Russell Smith, the owner and son of HLS’s founder, who is retiring following the completion of the transaction, says the acquisition marks a new and exciting phase for HLS. “ATC’s acquisition will allow HLS to continue to grow and provides a secure future for our employees. I’m confident the company is in good hands with the leadership of CEO Greg Heald and his team.”
The sale will generate opportunities in a new vehicle segment for ATC as it will now service the commercial vehicle market including heavy commercial, public service, buses and coaches, military vehicles and light commercial vehicles,” according to George Kostopoulos, vice president of global sales and marketing at ATC. “There are currently more than 12 million commercial vehicles on the road in Europe, with an average age of 13 years, which provides a deep market for its remanufactured products,” he says.
“We look forward to building on the legacy started by Harold Smith in 1955,” says Adrian Aston, the managing director of ATC Drivetrain U.K. Ltd. “HLS has created such a strong brand with both the commercial and military vehicle industries and while Russell may be retiring, the company name will continue. We look forward to expanding our services in new markets and adding HLS to the ATC family.”
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