Cummins Inc. Corporate Office Building in downtown Columbus is shown in this file photo from April. Republic file photo
COLUMBUS, Ind. — Cummins Inc. has closed on its $325 million acquisition of engine brake manufacturer Jacobs Vehicle Systems, the company said Thursday.
Under the deal, which was announced in February, Cummins plans to maintain Jacobs Vehicle Systems’ existing customer relationships and will incorporate the new acquisition into its components segment.
Founded in 1961, Jacobs Vehicle Systems is a subsidiary of Massachusetts-based Altra Industrial Motion Corp. and is a supplier of braking systems primarily used in heavy-duty truck engines, including the “Jake Brake” diesel engine brake, which was invented by Cummins founder Clessie Cummins, according to filings with the U.S. Securities and Exchange Commission.
Cummins, which is headquartered in Columbus, said it expects the acquisition to provide growth opportunities for its advanced diesel engine platforms, further invest in the United States and will help meet requirements under the United States–Mexico–Canada Agreement, or USMCA, which is free trade agreement between the three countries that replaced NAFTA.
For more on this story, see Friday’s Republic.
