Eaton Corp has reached agreement to purchase Tractech Holdings Inc, a global manufacturer of specialized differentials and clutch components for the commercial vehicle markets, for a price of $54 million. The transaction is expected to close by the end of August.
With 2004 sales of $43 million, Tractech employs about 170 people. The business is headquartered in Madison Heights MI and has manufacturing operations in Sligo, Ireland, northeast of Dublin. Tractech is owned by a shareholder group led by Edgewater Capital Partners LP, a Cleveland OH-based private equity group.
Tractech designs and manufactures highly specialized traction-modifying differentials and centrifugal clutches for the agricultural, construction, medium- and heavy-duty truck, military, and specialty vehicle markets. Tractech also sells into the aftermarket of these markets.