Vehicle technologies supplier Dana Inc. is buying the power transmission and fluid power businesses of the Italian Brevini Group in a deal that values the group at €325 million ($340 million), including the assumption of about €100m of debt. Dana plans initially to buy an 80% share in the Brevini businesses, with an option to acquire the remaining 20% by 2020.
Dana supplies engineered drivetrain, sealing and thermal management technologies, mainly for passenger vehicles, trucks and off-road equipment is particularly interested in Brevini’s products for these applications.
In the vehicular market, the Dana says its acquisition will expand its product portfolio and establish it as one of the only off-road suppliers that can manage the power needed both to move equipment and to perform work functions. The deal will also accelerate Dana’s hybrid and electric vehicles initiatives.
Brevini technologies that Dana is buying include mobile planetary hub drives, planetary gearboxes, hydraulic pumps, motors, valves, and electronic control systems. Brevini's expertise in cylindrical and planetary hub gears will supplement Dana’s existing activities in spiral bevel and hypoid gear technologies.
Brevini, founded in 1960, employs about 2,300 people. The family-owned business has engineering and manufacturing operations in China, Germany, and Italy, with a network of 30 sales subsidiaries around the world.
Dana, founded in 1904 and based in Ohio, employs more than 23,000 people in 25 countries.