ATC Drivetrain recently announced the acquisition of H.L. Smith Transmissions Ltd, (HLS). HLS is a UK-based independent remanufacturer of heavy-duty commercial vehicle drivetrain and steering systems. HLS operates from an 85,000 square-foot facility with full capability for engineering and remanufacturing of manual and automatic transmissions, drive heads and differentials, power steering boxes and prop shafts.
“ATC’s global depth in electronics and mechatronics combined with HLS’ expertise in commercial vehicle mechanical steering and powertrain systems provides synergies that will strengthen our market position and broaden the scope of our products and services,” said Greg Heald, ATC President & CEO. “The transaction with HLS marks ATC’s second acquisition in the UK and fourth acquisition in the past [two] years as we continue to build out the company’s geographic reach, capabilities and end markets.”
The acquisition represents a new market for ATC as it enters the commercial vehicle segment that includes heavy commercial, public service, buses and coaches, military vehicles and light commercial vehicles.
Russell Smith, the current owner and son of the founder of HLS, who is retiring following the completion of the transaction, said the acquisition marks a new and exciting phase for HLS. “ATC’s acquisition will allow HLS to continue to grow and provides a secure future for our employees. I’m confident the company is in good hands with the leadership of CEO Greg Heald and his team.”