Dana completes Purchase of Brevini Power-Transmission and Fluid Power businesses
2nd February 2017
The combination of Brevini and Dana Off-Highway creates a formidable player in the market with complementary, advanced technologies
REGGIO EMILIA, Italy, Feb. 2, 2017 – Dana Incorporated (NYSE: DAN) announced that it has completed the acquisition of the power-transmission and fluid power businesses of Brevini Group, S.p.A. The transaction closed yesterday, Feb. 1.
The combination of Brevini into Dana’s business creates numerous opportunities for profitable growth. Among them, the acquisition:
immediately expands Dana’s product portfolio and establishes the company as the only solutions provider that can manage power conveyance to move machines and also perform the work functions of the machine;
increases Dana’s addressable market for off-highway driveline systems by providing access to tracked vehicles in that segment;
significantly broadens the opportunities in the industrial market – an important segment that Dana has served for more than 70 years;
provides a platform of proven technologies that can be offered to Dana’s on-highway customers; and
accelerates Dana’s hybridization and electrification initiatives.
Customers of both companies will benefit from the combination of two complementary organizations, as the agreement creates a stronger, more diverse company, better able to serve their needs.
“Our industry is going through a period of change. The combination of Brevini and Dana creates a formidable player in this dynamic market” said Renato Brevini, president of Brevini Group S.p.A. “Our customers and employees will find an ideal fit with Dana, a company that delivers true value through a commitment to innovation. Dana’s global footprint, operational excellence, deep knowledge of the vehicular and industrial markets, and position as a top-tier supplier to manufacturers will raise the profile and market penetration of our products. This is the beginning of a new era,” concluded Mr. Brevini, “and it will be well represented by the new Dana-Brevini logo, already visible on all our major manufacturing plants.”
Dana purchased an 80 percent share in the Brevini businesses, with an option to purchase the remaining 20 percent by 2020.
“Brevini is a company we have long admired. It is a strong, well-run business that shares Dana’s commitment to serving customers with advanced technologies that deliver exceptional performance and durability,” said James Kamsickas, president and chief executive officer of Dana. “Brevini’s product line is a perfect complement to Dana’s current offerings, which is why we executed this transaction at an opportune time in the off-highway business cycle.”
“Brevini’s product portfolios will help us to increase Dana content on construction, mining, material-handling, and other off-highway equipment,” said Aziz Aghili, president of Dana Off-Highway Drive and Motion Technologies. At the same time, it expands our opportunities in the industrial market, which has been an important sector for both Dana and Brevini for decades and will be further developed.”
Brevini’s technology portfolio increases the patents and patents pending for Dana’s off-highway business by 33 percent.