Transportation Technologies Industries has agreed to a management buyout led by chairman/CEO Thomas Begel and president/COO Andrew Weller.
Purchase price is $21.50 per share of common stock, approximately 39% over the closing market price of Transportation Technologies' common stock in December when it announced that it had received a proposal. The original offer was for $20 a share.
Transportation Technologies, based in Chicago, is a manufacturer of components for heavy duty and medium duty trucks and buses in the truck parts aftermarket. Product lines include Gunite wheel-end components, Brillion custom iron castings, Imperial body and chassis components, Bostrom truck and bus seating systems, and Fabco steerable drive axles and gearboxes.
Management Buys Transportation Technologies
Transportation Technologies Industries has agreed to a management buyout led by chairman/CEO Thomas Begel and president/COO Andrew Weller.
More Aftermarket
Phillips Opens High-Tech Distribution Center for Faster Parts Delivery
Phillips Industries’ new Cincinnati-area distribution center is now shipping aftermarket trucking parts nationwide, aiming to speed up delivery times for customers.
Read More →
Volvo to Sponsor America’s Road Team for 2025
Volvo Trucks announced that it is extending its exclusive sponsorship of America’s Road Team for 2025.
Read More →
Webb to Start Taking Orders for UltraSet Pre-Adjusted Wheel Hubs
Webb, which recently acquired the Stemco Trifecta pre-adjusted hub program, will soon start taking orders for its replacement pre-assembled hub, the UltraSet.
Read More →
All-Makes Automatic Brake Adjusters, Ride Height Control Valves from Midland
SAF-Holland has added automatic brake adjusters and ride height control valves to its Midland All-Makes Program.
Read More →
ZF Aftermarket Expands [pro]Academy Training
ZF Aftermarket said it is expanding its ZF [pro]Academy training and will be adding 40 new modules this year.
Read More →
Eaton Adds Remanufactured Advantage Line of Clutches
Eaton has added its Advantage clutches to its remanufactured product line. The clutches feature a unique strap drive intermediate plate designed to allow customers to choose the latest OE specification
Read More →
ConMet Acquires TruckLabs, the Creator of TruckWings
Commercial truck and trailer parts provider ConMet acquired TruckLabs, the company that created TruckWings, an aerodynamic device that attaches to truck cabs and deploys to close the gap between truck and trailer. TruckLabs now operates as a subsidiary of ConMet.
Read More →
Diesel Laptops Releases Fault-Code-to-Part-Number Tool
Diesel Laptops said its Truck Fault Codes allows users to input a fault code and immediately identify and order the parts needed to complete repair work.
Read More →
Heavy Duty Parts and Labor Costs Dropped in Q2
A benchmarking report from TMC and Decisiv reveals good news for fleets as heavy-duty parts and labor costs dropped in the second quarter of 2023.
Read More →
Platform Science, Uptake Partner on Predictive Maintenance Platform
Platform Science and Uptake have formed a partnership aimed at bringing a comprehensive predictive maintenance program to market for U.S. truck fleets.
Read More →