Meritor Inc. announces that it has acquired all the outstanding common shares of Transportation Power, Inc. (TransPower). Terms of the transaction were not disclosed.
"We are excited to welcome TransPower to the Meritor family as we continue providing our customers with sophisticated electric drivetrain solutions," says Jay Craig, Meritor's CEO and President. "This acquisition enables us to further position the company as a premier supplier of electrification technologies for commercial vehicles."
With the addition of TransPower's product portfolio, Meritor advances its M2022 priorities through increased investment in next-generation technologies. It also further establishes the value of Meritor's Blue Horizon brand, which represents the company's emerging platform of advanced technologies centered on electrification.
TransPower, a California-based company, supplies integrated drive systems, full electric truck solutions and energy-storage subsystems to major manufacturers of trucks, school buses, refuse vehicles and terminal tractors. The company has been focused exclusively on developing electrical drive solutions since its inception in 2010.