Troy-based Meritor, a global supplier of drivetrain, mobility, braking, and aftermarket services for commercial vehicle and industrial markets, has acquired the product portfolio and related technologies of California-based Fabco Holdings Inc. and its subsidiaries, officials said today. Terms of the deal were not disclosed.
“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,” says Jay Craig, Meritor’s CEO and president.
Craig says 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 for medium, heavy, and extra heavy vehicles for on-and-off-highway, construction, defense, rail, and other industrial applications. The products will be available to both OEM and aftermarket customers.
Additionally, Craig says, the transaction allows Meritor to offer global customers a wider breadth of capabilities and an expanded portfolio of specialty products. The acquisition will also help the company diversify its customer base and expand into the rail, oil, and gas industries not currently served by Meritor.