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Carlyle Group Buys Back AxleTech

January 9, 2015

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Global alternative asset manager The Carlyle Group acquired AxleTech International headquartered in Troy, Michigan. The Carlyle Group previously owned AxleTech from 2005-2008, when it was sold to General Dynamics.

Mary Petrovich, a former CEO of AxleTech from 2002-2011, will rejoin the firm as executive chairman. Joe Mejaly, who joined the company in May 2014 as general manager, will serve as AxleTech International’s CEO under Carlyle.

AxleTech International is a supplier of off-highway and specialty vehicle drivetrain systems and components to OEMs and the aftermarket. They serve commercial and defense customers globally.

“I am eager to work with Joe, who brings a wealth of experience in off and on highway products, with strong skills in the aftermarket,” said Petrovich. “Joe will drive the business to ensure satisfied customers with a singular perspective committed to its unique market and capabilities.”

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