Cummins Inc. today announced the signing of an agreement to acquire Jacobs Systems (JVS), a subsidiary of Altra Industrial Motion Corp., and a supplier of engine braking, cylinder deactivation, start and stop and thermal management technologies.
The agreement brings the addition of new technologies to provide growth opportunities for’ current and future advanced diesel engine platforms. The acquisition of JVS also secures critical USMCA qualified engine components for current and aftermarket products and expands on Turbo Technologies’ success with customers globally.
“JVS brings engineering expertise, best in class products and keycapabilities to that will allow us to continue developing component technologies that deliver market leading performance and ,” said Jennifer Rumsey, ’ President and Chief Operating Officer. “We expect that this transaction will provide both attractive financial returns and future growth opportunities for our company.”
plans to maintain JVS’ customer relationships and offer improved value and other benefits to the customers of both companies. Operations from the acquisition will report into Turbo Technologies, a business unit led by Shon Wright, Vice President of Turbo Technologies, that resides within the company’s Components segment. “We’re excited about the prospect of welcoming employees from JVS into the organization and look forward to adding their deep engineering talent to complement our expertise as we work together to develop innovative and cost-effective products now, and in the future,” said Wright.
The acquisition also represents another step forward in’ continued investment in key technologies to advance its path to zero strategy that will reduce greenhouse gas and lower the air quality impacts of their products. Engine braking and cylinder deactivation technologies will be key components to meeting current and future regulations, and this acquisition would allow to better integrate valuable components with its -leading medium- and heavy-duty engines.
Founded in 1961, JVS has roughly 600 employees and more than 60 years of experience in engine retarding and valve actuation systems for the commercialindustry. Since then, more than nine million engine brakes have been produced by JVS for commercial throughout the world. There is also historical linkage between JVS and . In 1961, JVS introduced the first engine brake, commonly referred to as the “Jake Brake” for commercial , which was invented by Clessie , the founder of Inc.
“We believe this acquisition is a terrific move to continue the rich tradition of JVS innovation,” said Carl Christenson, Chairman and CEO of Altra. “The sale of JVS towill provide new opportunities to innovate and evolve industries that both companies have been part of for more than 60 years.”
JVS has two primaryfacilities in Bloomfield, CT (USA) and Suzhou, China, and expects to invest additional capacity and resources into their operations. JVS’ footprint will also help meet USMCA requirements and further invest in the U.S.
This acquisition is subject to customary closing conditions, including receipt of applicable regulatory approvals, and is expected to close during this calendar year.
Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, , fuel systems, controls systems, air handling systems, automated transmissions, electric systems, batteries, electrified , and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, employs approximately 57,800 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $1.8 billion on sales of $19.8 billion in 2020. Learn more at cummins.com.