Dana Buys Brevini’s Power Transmission, Fluid Power Businesses

Dana Inc. has announced a definitive agreement to purchase the power-transmission and fluid power businesses of Brevini Group, S.p.A. Under terms of the agreement, Dana plans to initially purchase an 80% share in the Brevini businesses, with an option to purchase the remaining 20% by 2020. Dana has valued 100% of the Brevini businesses at $343 million (€325 million), including the assumption of approximately ($105 million) €100 million of net debt.

The acquisition will immediately expand Dana's product portfolio with adjacent technologies and establish Dana as the only off-highway solutions provider that can manage the power to both move the equipment and perform its critical work functions. It adds technologies for tracked vehicles, doubling Dana's addressable market for off-highway driveline systems. It also provides a platform of proven technologies that can be leveraged in Dana's light- and commercial-vehicle end markets, helping to accelerate the company's hybridization and electrification initiatives.

The transaction will be funded with cash on hand, with existing Brevini debt to be refinanced in the future. Subject to customary regulatory approvals, the acquisition is expected to close in early 2017.