Truck parts manufacturer Meritor, Inc. has acquired TransPower, Inc., a California-based firm that develops battery-electric technologies for large commercial vehicles, the company said today. Financial terms of the deal were not disclosed.
Michigan-based Meritor said the deal expands its investment in next-generation technologies, adding to its Blue Horizon brand of advanced technologies centered on electrification.
"We are excited to welcome TransPower to the Meritor family as we continue providing our customers with sophisticated electric drivetrain solutions," Jay Craig, Meritor's CEO and president, said in a statement announcing the deal. "This acquisition enables us to further position the company as a premier supplier of electrification technologies for commercial vehicles."
TransPower supplies integrated drive systems, full electric truck solutions, and energy-storage subsystems to major manufacturers of trucks, school buses, refuse vehicles, and terminal tractors. Founded in 2010, the company is focused exclusively on developing electrical drive solutions.