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Mergers & Acquisitions

Hyliion Acquires Battery Division of Gentherm

Hyliion has acquired the battery division of vehicle electrification company Gentherm and announced strategic partnerships with both Toshiba and Dana.

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Covenant Transportation Acquires Landair for $83 Million

Covenant Transportation Group has completed the acquisition of Landair Holdings, which includes Landair Transport and Landair Logistics.

Cummins Acquires Electric and Hybrid Powertrain Provider

Cummins has acquired Efficient Drivetrains Inc., a Silicon Valley-based company known for producing hybrid and electric power solutions for the commercial market.

Phillips Connect Technologies Acquires Polish Electrical Components Company

Phillips Connect Technologies has completed the purchase of Fortech Poland, a manufacturer and distributor of 24-volt electrical connectors and cables for commercial vehicles for the European Union market.

Geotab Acquires EV Telematics Company

Geotab has acquired FleetCarma, a Canadian telematics company that specializes in the management of electrified vehicles, the telematics provider announced at its Geotab Connect conference in Toronto today.

Brinks to Integrate Dunbar Fleet After Merger

Brinks has purchased Dunbar Armored and will integrate it’s fleet of 1,600 armed trucks to its current fleet of more than 2,000 vehicles.

Velocity Truck Centers Acquires Sierra Freightliner

Velocity Truck Centers, a commercial vehicle dealership group in the Southwest, has acquired Sierra Freightliner Sterling Western Star, extending the company’s reach in Nevada.

Inland Truck Parts Acquires 2 New Businesses

Inland Truck Parts & Service (ITP) announced its addition of two Texas businesses to its footprint of stores. The new stores will allow the company to better meet the repair and equipment needs of truck owners in the southwest region.

Icahn Selling Federal-Mogul to Tenneco

Icahn Enterprises L.P., the parent company of Icahn Automotive Group LLC, is selling auto parts maker Federal-Mogul LLC to Tenneco Inc. for $5.4 billion. Tenneco plans to split Federal-Mogul into two entities.

Ryder Acquisition Adds Last-Mile Delivery, E-Commerce Fulfillment Capabilities

Ryder System has acquired e-commerce fulfillment provider MXD Group, including the company's network of facilities and last mile capabilities.