DANA acquires Brevini Fluid Power (BFP) & Brevini Power Transmission (BPT)

DANA acquired Brevini Fluid Power (BFP) & Brevini Power Transmission (BPT) for approximately $181 million paid at closing for 80%; 100% enterprise value placed at EUR 325 million including approximately EUR 100 million assumed net debt, a transaction completed in February 2017, structured as all cash.

Brevini Fluid Power (BFP) & Brevini Power Transmission (BPT) operates in Off-Highway, is based in Italy (operations in China, Germany, and Italy), had revenue of about EUR 388 million in 2015 (businesses acquired). The power-transmission and fluid power businesses of Brevini Group, S.p.A. of Italy. Brevini's technologies include mobile planetary hub drives; planetary gearboxes; hydraulic pumps, motors, and valves; and advanced electronic control systems. Founded in 1960, the privately held Brevini Group employed approximately 2,300 people with major engineering and manufacturing operations in China, Germany, and Italy; the businesses acquired reported sales of EUR 388 million in 2015.

The acquisition expands our Off-Highway operating segment product portfolio to include technologies for tracked vehicles, doubling our addressable market for off-highway driveline systems and establishing Dana as the only off-highway solutions provider that can manage the power to both move the equipment and perform its critical work functions. This acquisition also brings a platform of technologies that can be leveraged in our light and commercial vehicle end markets, helping to accelerate our hybridization and electrification initiatives.

Doubled Dana's addressable off-highway driveline market and added work-function technology. Establishes Dana as the only solutions provider that can manage power conveyance to move machines and also perform the work functions of the machine; accelerates hybridization and electrification initiatives. Off-Highway operating segment