Swanson Industries Acquires the Off-Highway Business of TransAxle

Morgantown, WV (June 26, 2025) — Swanson Industries, Inc. (“Swanson”), a portfolio company of Turnspire Capital Partners LLC (“Turnspire”), announced today that it has acquired the Off-Highway Business (the “Off-Highway Business”) of TransAxle Holdings, LLC. The Off-Highway Business is a premier U.S.-based remanufacturer of transmissions, differentials, hydraulics, axles and brake systems, and related industrial products for numerous off-highway verticals. 

Over its 46-year history, the Off-Highway Business has built a reputation for delivering unparalleled capabilities, quality, and service. From locations in Pennsauken, New Jersey and Garner, North Carolina, it serves a diverse array of customers across the hard rock mining, metals, construction, aerospace, and marine sectors, among others. 

The Off-Highway Business will be re-branded as the Swanson Off-Highway division. Swanson will provide the division with substantial additional capacity and resources, supporting its continued growth through expanded capabilities and enhanced service offerings. 

Freshfields LLP served as legal counsel to Swanson in the transaction.