A Swedish based machinery producer, Concentric AB, has acquired Allied Enterprises LLC, a US supplier of transmission products in a key strategic step.
Allied Enterprises operates a manufacturing facility of transmission products in Indiana, US. The deal was concluded in cash for SEK 95.4 million (US$ 11.7 million).
Concentric which specialises in hydraulic and engine applications can further strengthen its transmission pump capability through the acquisition. Concentric is likely to get more market exposure in the transmission market and benefit from the operational synergies. It already supplies to heavy machinery sectors such as construction, industrial and agriculture.
One key aspect of the acquisition is that Allied Enterprise’s transmissions pumps can be customised for Battery Electric Vehicle (BEV) and Hydrogen Fuel Cell (HFC) vehicle.