SSG Capital Advisors served as investment banker to TransAxle Holdings, LLC in the sale of its off-highway division to Swanson Industries, Inc., a portfolio company of Turnspire Capital Partners. The transaction closed in June 2025.
TransAxle is a leading independent remanufacturer of transmissions, differentials, and hydraulics. The Company provides comprehensive drivetrain solutions for medium and heavy-duty commercial trucks and off-highway vehicles through its branch network and wholesale partnerships. Using a standardized, certified process, the Company replaces worn or unusable components with new and used parts, restoring units to like-new or superior industry standards.
SSG was retained by TransAxle to explore strategic alternatives. SSG conducted an expansive marketing process and attracted interest from several strategic parties which engaged in a review of specific business units. Swanson Industries was selected as the best purchaser of the Company’s off-highway division, which consisted of two locations in Garner, North Carolina, and Pennsauken, New Jersey. SSG’s ability to manage complex carve-out transactions as well as experience in the transportation and industrial manufacturing industries allowed the Company to maximize the value of its off-highway division.
Swanson Industries is a premier provider of manufacturing, remanufacturing, repair, and distribution services of mining equipment, hydraulic cylinders, and related industrial equipment across the United States. Headquartered in Morgantown, West Virginia, Swanson has established a strong presence in the mining and heavy industry sectors.
Other professionals who worked on the transaction include:
- Andrew B. Lehman and Patrick K. Hovet of Akin Gump Strauss Hauer & Feld LLP, counsel to TransAxle Holdings, LLC;
- Rick Malagodi, Bill Patterson and Edward Derengowski of Harney Partners, financial advisor to TransAxle Holdings, LLC; and
- Claire E. James, Kevin A. Uhler, Catalina Ford, Matthew Sieben, Dax Zhang and Teresa Weiss of Freshfields US LLP, counsel to Swanson Industries, Inc.