TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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August 7, 2025
Source: SSG Capital Advisors, LLC
SSG Capital Advisors, LLC (“SSG”) served as investment banker to TransAxle Holdings, LLC (“TransAxle” or the “Company”) in the sale of its off-highway division to Swanson Industries, Inc., a portfolio company of Turnspire Capital Partners. The transaction closed in June 2025.
TransAxle is a leading independent remanufacturer of transmissions, differentials, and hydraulics. The Company provides comprehensive drivetrain solutions for medium and heavy-duty commercial trucks and off-highway vehicles through its branch network and wholesale partnerships. Using a standardized, certified process, the Company replaces worn or unusable components with new and used parts, restoring units to like-new or superior industry standards.
SSG was retained by TransAxle to explore strategic alternatives. SSG conducted an expansive marketing process and attracted interest from several strategic parties which engaged in a review of specific business units. Swanson Industries was selected as the best purchaser of the Company’s off-highway division, which consisted of two locations in Garner, North Carolina, and Pennsauken, New Jersey. SSG’s ability to manage complex carve-out transactions as well as experience in the transportation and industrial manufacturing industries allowed the Company to maximize the value of its off-highway division.
Swanson Industries is a premier provider of manufacturing, remanufacturing, repair, and distribution services of mining equipment, hydraulic cylinders, and related industrial equipment across the United States. Headquartered in Morgantown, West Virginia, Swanson has established a strong presence in the mining and heavy industry sectors.
Other professionals who worked on the transaction include:
• Andrew B. Lehman and Patrick K. Hovet of Akin Gump Strauss Hauer & Feld LLP, counsel to TransAxle Holdings, LLC;
• Rick Malagodi, Bill Patterson and Edward Derengowski of Harney Partners, financial advisor to TransAxle Holdings, LLC; and
• Claire E. James, Kevin A. Uhler, Catalina Ford, Matthew Sieben, Dax Zhang and Teresa Weiss of Freshfields US LLP, counsel to Swanson Industries, Inc.
CONTACTS ON THIS DEAL
Michael S. Goodman
Managing Director
mgoodman@ssgca.com
(610) 940-5806
Matthew P. Karlson
Managing Director
mkarlson@ssgca.com
(610) 940-5804
Samuel P. Charlton
Associate
scharlton@ssgca.com
(610) 940-1072
Dylan E. Rush
Analyst
drush@ssgca.com
(610) 940-3637
About SSG Capital Advisors, LLC
SSG Capital Advisors is an independent boutique investment bank that assists middle-market companies and their stakeholders in completing special situation transactions. We provide our clients with comprehensive investment banking services in the areas of mergers and acquisitions, private placements, financial restructurings, valuations, litigation, and strategic advisory. SSG has a proven track record of closing over 450 transactions in North America and Europe and is a leader in the industry.
Securities are offered through SSG Capital Advisors, LLC (Member SIPC, Member FINRA). All other transactions are effectuated through SSG Advisors, LLC, both of which are wholly owned by SSG Holdings, LLC. SSG is a registered trademark for SSG Capital Advisors, LLC and SSG Advisors, LLC.
