Green Angel Syndicate is pleased to announce the successful exit of one of its earliest investments, Vantage Power, to Allison Transmission Holdings Inc (NYSE: ALSN), a major OEM and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions. The sum of the deal is undisclosed.
Allison Transmission has a more than 103-year history of leading technological advancements: from James Allison owning the winning racecar of the Indianapolis 500 Mile Race in 1915 to building every transmission that is in the United States Army’s Abrams Battle Tank. Allison is building upon the legacy of those and other advancements.
Vantage Power is an award-winning London-based technology company specializing in developing electrified propulsion and connected vehicle technologies for medium- and heavy-duty vehicle manufacturers and their suppliers. With particular focus on battery technology development, vehicle integration and control systems, as well as vehicle connectivity and telemetry, Vantage Power technologies have been deployed in a wide range of applications including complete electric hybrid repower systems for buses to grid energy storage.
“Vantage Power’s entrepreneurial spirit and technological advancements complement our strategic priorities to meet and exceed our customers’ demands,” said David S. Graziosi, President and CEO of Allison Transmission. “Through this and other growth initiatives, we will continue to build upon our conventional and electric hybrid products today while differentiating ourselves in the electrification and fuel cell markets.”