Unites Propane ‘PIthon’ and UPS Engines with PSI’s Broader Line
Power Solutions International said during ACT Expo 2015 in Dallas on Wednesday that it’s agreed to purchase Powertrain Integration for approximately $30 million. The deal is expected to close in about 30 days.
“The definitive agreement provides for the purchase of the assets of Powertrain Integration and the assumption of certain liabilities,” states a release. “The purchase price consists of $21.6 million in cash and targeted contingent consideration of $8 million in cash.”
Powertrain Integration supplies engines including the 8.0-liter ‘PIthon’ that powers the propane autogas S2G from Freightliner Custom Chassis Corp, and the 6.0-liter modified GM V-8 that powers 1,000 propane autogas UPS vehicles, also from FCCC.
‘Acquisition Fits Perfectly’
“PI’s 2014 sales for GM 6.0-liter systems exceeded 6,000 units,” states the acquisition release. “Recently, the company received a similar order from Freightliner for 600 additional natural gas and propane engines, also for UPS.
“With the purchase of Powertrain Integration, PSI solidifies its on-highway market position, knowledge and experience significantly.”
“This acquisition fits perfectly into our on-highway strategy,” said PSI chairman and CEO Gary Winemaster. “We’re not only expanding our product portfolio to give customers more options – we’re also adding PI’s years of on-highway experience, its technical expertise, and its strong customer relationships to our own capabilities.”
PSI supplies a range of fuel-flexible engines ranging from .97 liters to 22 liters of displacement.
“Together, we offer capabilities that are second to none in the global on-highway market,” said Powertrain Integration’s president Bob Pachla.
The next ACT Expo has been scheduled for May 2-5, 2016 at the Long Beach Convention Center in Long Beach, Calif.
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Source: PSI release and Fleets & Fuels at ACT Expo 2015 in Dallas