Clairfield advises on the sale of HL Smith (Transmissions) Ltd to ATC Drivetrain

HLS is a leading independent remanufacturer of heavy-duty commercial vehicle drivetrain and steering systems. The Wolverhampton UK-based business has full capability for engineering and remanufacturing of manual and automatic transmissions, drive heads and differentials, power steering boxes and prop shafts. HLS provides units for HGV trucks, busses & coaches, military vehicles, and selected light commercial vehicles.

Michigan-headquartered ATC serves the global automotive industry from its facilities in the USA, United Kingdom, and China. The company supports automotive OEMs, independent aftermarket distributors and individual consumers by providing remanufactured powertrain and drivetrain solutions, including engine, transmissions and transfer cases.

Clairfield UK led the transaction, generating offers for the business from interested parties in the UK, continental Europe, and the US. ATC provided a compelling strategic rationale for the deal, bringing expertise in aligned sectors and product ranges to HLS.

“The support and advice offered by Clairfield through the whole process was of the highest professional and personable standard and never at any time left us doubting our choice of partner. The sale of a long-standing family business is not always an easy road to take in many ways, but we could not have had a better team to guide us on the journey.” — Russell Smith, owner of HL Smith

“It has been an absolute pleasure working with Russell and we are delighted to have found the right owner to build on the Smith family’s legacy. The deal again demonstrates Clairfield’s international reach and ability to generate both UK and overseas buyers through our Clairfield International partners around the world.”– Tom McCarthy, director at Clairfield UK