Indianapolis-based Allison Transmission Holdings Inc. (NYSE: ALSN) has purchased one of its longtime suppliers of aluminum transmission castings, plus an affiliated tool and die maker, in a deal worth approximately $103 million.
Allison says it acquired Walker Die Casting of Lewisburg, Tennessee which has been a supplier for 20 years. Walker employs 850 workers, according to the company website.
The transmission manufacturer also acquired C & R Tool and Engineering of Muscle Shoals, Alabama. C&R supplies Walker Die with metal working tools and it’s owned by the Walker family. According to Allison, Walker Die Casting owners had been looking for a buyer of the 60-year-old company.
“While it is always hard to let go of the business you built, we are proud that it will remain in good hands with Allison Transmission,” said John Walker, president of Walker Die Casting.
Walker and C&R will be run as Allison Transmission plants. Allison does not expect the acquisitions to have a material impact on current fiscal year earnings.