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.”