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Corporation
AUTOMOTIVE & TRANSPORTATION | Automobile Parts
meritor.com

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Investments

4

Portfolio Exits

1

Partners & Customers

10

About Meritor

Meritor (NYSE: MTOR) is a global supplier of drivetrain, mobility, braking, and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing products that offer superior performance, efficiency, and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty, and aftermarket customers in more than 70 countries.

Meritor Headquarter Location

2135 W Maple Road

Troy, Michigan, 48084,

United States

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Meritor Web Traffic

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Latest Meritor News

Norbert Nusterer leaving Cummins after 25 distinguished years; Cummins names Jenny Bush President, Power Systems business

Jun 29, 2022

06/29/2022 | 02:01pm EDT Message : *Required fields Today, Cummins Inc. (NYSE: CMI) announced a change in the leadership of the company’s Power Systems segment, one of the company’s five business segments. Norbert Nusterer, Vice President and President of Power Systems, has made the decision to leave Cummins after 25 years with the company. Jenny Bush, who is currently Vice President, Cummins Sales and Service – North America, will assume the role of President - Power Systems effective upon Norbert’s departure from that role on August 1. “During his 25 years with Cummins, Norbert has invested significantly, and intentionally, in our people and his understanding of our markets and customer needs,” said Cummins Chairman and CEO, Tom Linebarger. “He has contributed those skills to multiple leadership roles across the company – from manufacturing to supply chain and aftermarket – and driven sustained improvement that has benefited our people and business. His impact on our business can be seen in the results of his efforts during his time overseeing New and Recon Parts, advising our India Business as they navigated local leadership changes and achieved strong financial performance, and most recently as President of our Power Systems business segment. Norbert’s leadership and mentoring have extended across the company and into the Columbus community. He will be missed, and we wish him the best as he moves forward.” Linebarger continued, “Given the varied demands of the markets and applications that our Power Systems segment serves, Jenny Bush is uniquely positioned to assume this role, advance the strategy, and focus on key opportunities for the segment. She has broad experience across our power generation, industrial markets and our Distribution segment. In addition, Jenny has strong business acumen, and a focus on painting a vision and energizing teams to deliver outstanding results for our customers and the business. Most recently, Jenny has led our North America Distribution business and been intensely focused on successfully executing an effort to ensure an optimal experience for our stakeholders. She has always been focused on delivering results and the transformation of the North American distribution business is no exception. We are excited about adding her capabilities, leadership vision and record of delivering results to Power Systems and to the Cummins leadership team. There is no doubt, she is the right person for this role.” Nusterer joined Cummins in 1996, and currently serves as Vice President and President of the Power Systems segment. Prior to that, Nusterer served as Vice President of New and Recon Parts, Nusterer oversaw a comprehensive integration of Cummins’ global aftermarket supply chain and transformed its parts business, Nusterer and his team doubled the size of Cummins’ service parts and remanufacturing businesses and transformed them into a global shared service organization supporting all five Cummins businesses. Over his career, Nusterer has contributed to the company in multiple leadership roles. These positions included global responsibilities for and collaboration with OEM customers, Cummins global distributors and multiple key suppliers. Bush joined Cummins 25 years ago as a parts writer in the U.K. after completing a technician apprenticeship with Shell Oil – the program’s first female graduate. Since then, Bush added her expertise and passion for process improvement as a Six Sigma Blackbelt in Power Systems, Alternator Division (CGT), and led sales, purchasing and supply chain globally for this business. Bush also led the Global Commercial Marine Engine business, and later moved into the Distribution segment, leading the former Mid-South & Southern Plains and then the Gulf region. For the past few years, Bush has led the transformation of the North American distribution business with the goal of building the world’s best distribution business for Cummins by ensuring a unified customer experience, standardizing internal operations, and leveraging the scale and benefits of ownership. Her efforts have enhanced employee engagement, simplified how the company works, accelerated growth, improved how Cummins serves its customers, and produced cost savings. About Cummins Inc. Cummins Inc., a global power technology 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 internal combustion, electric and hybrid integrated power solutions and components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, microgrid controls, batteries, electrolyzers and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 59,900 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.1 billion on sales of $24 billion in 2021. Learn more at cummins.com . Forward-looking disclosure statement Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our forecasts, guidance, preliminary results, expectations, hopes, beliefs and intentions on strategies regarding the future. These forward-looking statements include, without limitation, statements relating to our plans and expectations for our revenues and EBITDA. Our actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to: any adverse results of our internal review into our emissions certification process and compliance with emission standards; increased scrutiny from regulatory agencies, as well as unpredictability in the adoption, implementation and enforcement of emission standards around the world; changes in international, national and regional trade laws, regulations and policies; any adverse effects of the U.S. government's COVID-19 vaccine mandates; changes in taxation; global legal and ethical compliance costs and risks; increasingly stringent environmental laws and regulations; future bans or limitations on the use of diesel-powered products; any adverse effects of the conflict between Russia and Ukraine and the global response (including government bans or restrictions on doing business in Russia); failure to successfully execute or integrate the acquisition of Meritor, Inc.; failure to realize all of the anticipated benefits from our announced acquisition of Meritor, Inc.; raw material, transportation and labor price fluctuations and supply shortages; aligning our capacity and production with our demand; the actions of, and income from, joint ventures and other investees that we do not directly control; large truck manufacturers' and original equipment manufacturers' customers discontinuing outsourcing their engine supply needs or experiencing financial distress, bankruptcy or change in control; product recalls; variability in material and commodity costs; the development of new technologies that reduce demand for our current products and services; lower than expected acceptance of new or existing products or services; product liability claims; our sales mix of products; failure to complete, adverse results from or failure to realize the expected benefits of the separation of our filtration business; our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions and divestitures and related uncertainties of entering such transactions; challenging markets for talent and ability to attract, develop and retain key personnel; climate change and global warming; exposure to potential security breaches or other disruptions to our information technology environment and data security; political, economic and other risks from operations in numerous countries including political, economic and social uncertainty and the evolving globalization of our business; competitor activity; increasing competition, including increased global competition among our customers in emerging markets; labor relations or work stoppages; foreign currency exchange rate changes; the performance of our pension plan assets and volatility of discount rates; the price and availability of energy; continued availability of financing, financial instruments and financial resources in the amounts, at the times and on the terms required to support our future business; and other risks detailed from time to time in our SEC filings, including particularly in the Risk Factors section of our 2021 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the SEC, which are available at http://www.sec.gov or at http://www.cummins.com in the Investor Relations section of our website. View source version on businesswire.com: https://www.businesswire.com/news/home/20220629005616/en/ © Business Wire 2022

Meritor Investments

4 Investments

Meritor has made 4 investments. Their latest investment was in SEA Electric as part of their Corporate Minority on August 8, 2021.

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Meritor Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/3/2021

Corporate Minority

SEA Electric

Yes

2

4/2/2019

Corporate Minority - II

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10

12/4/2017

Corporate Minority

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$99M

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10

1/2/2002

Corporate Minority

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0

Date

8/3/2021

4/2/2019

12/4/2017

1/2/2002

Round

Corporate Minority

Corporate Minority - II

Corporate Minority

Corporate Minority

Company

SEA Electric

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Amount

$99M

New?

Yes

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Co-Investors

Sources

2

10

10

0

Meritor Portfolio Exits

1 Portfolio Exit

Meritor has 1 portfolio exit. Their latest portfolio exit was Suspensys Sistemas Automotivos on July 31, 2013.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/31/2013

Acquired

$99M

1

Date

7/31/2013

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

1

Meritor Acquisitions

5 Acquisitions

Meritor acquired 5 companies. Their latest acquisition was Siemens - Commercial Vehicles on May 20, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

5/20/2022

$99M

Acquired Unit

2

1/16/2020

Other

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$99M

$99M

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10

5/8/2019

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$99M

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10

4/30/2018

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$99M

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10

9/5/2017

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$99M

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10

Date

5/20/2022

1/16/2020

5/8/2019

4/30/2018

9/5/2017

Investment Stage

Other

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

Note

Acquired Unit

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Sources

2

10

10

10

10

Meritor Partners & Customers

10 Partners and customers

Meritor has 10 strategic partners and customers. Meritor recently partnered with Clarience Technologies on March 3, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

3/8/2022

Partner

United States

Clarience Technologies Forms Technology Alliance with Meritor to Explore Future Connectivity Solutions in Commercial Transportation.

Orlando , Florida -LRB- March 8 , 2022 -RRB- -- Clarience Technologies and Meritor , Inc. are forming a technology alliance to develop future connectivity solutions for commercial trucks and trailers .

1

3/3/2022

Partner

United States

16:30 ET Meritor Announces Collaboration with ConMet eMobility to Enable Zero-Emission Trailers

TROY , Mich. , March 3 , 2022 / PRNewswire / -- Meritor , Inc. today announced it has entered into a collaboration agreement with ConMet in which Meritor , Inc. will develop purpose-built trailer suspensions and brakes , as well as tire inflation systems to work with ConMet 's PreSet Plus ® eHub .

1

2/2/2022

Client

United States

16:30 ET Meritor and PACCAR Extend Electrification Agreement

`` This extension affirms the strength of the PACCAR and Meritor , Inc. partnership , and illustrates that our technology continues to prove itself in real-world applications , '' said Tim Bowes , senior vice president and president , Electrification , Industrial and North America Aftermarket for Meritor , Inc. .

1

12/7/2021

Partner

United Kingdom

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10

12/7/2021

Client

United States

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10

Date

3/8/2022

3/3/2022

2/2/2022

12/7/2021

12/7/2021

Type

Partner

Partner

Client

Partner

Client

Business Partner

Country

United States

United States

United States

United Kingdom

United States

News Snippet

Clarience Technologies Forms Technology Alliance with Meritor to Explore Future Connectivity Solutions in Commercial Transportation.

Orlando , Florida -LRB- March 8 , 2022 -RRB- -- Clarience Technologies and Meritor , Inc. are forming a technology alliance to develop future connectivity solutions for commercial trucks and trailers .

16:30 ET Meritor Announces Collaboration with ConMet eMobility to Enable Zero-Emission Trailers

TROY , Mich. , March 3 , 2022 / PRNewswire / -- Meritor , Inc. today announced it has entered into a collaboration agreement with ConMet in which Meritor , Inc. will develop purpose-built trailer suspensions and brakes , as well as tire inflation systems to work with ConMet 's PreSet Plus ® eHub .

16:30 ET Meritor and PACCAR Extend Electrification Agreement

`` This extension affirms the strength of the PACCAR and Meritor , Inc. partnership , and illustrates that our technology continues to prove itself in real-world applications , '' said Tim Bowes , senior vice president and president , Electrification , Industrial and North America Aftermarket for Meritor , Inc. .

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Sources

1

1

1

10

10

Meritor Team

6 Team Members

Meritor has 6 team members, including former President, Philip Martens.

Name

Work History

Title

Status

Philip Martens

President

Former

April Miller Boise

Senior Vice President

Former

Marco Meliga

Managing Director

Former

Gary Alstott

Senior Director

Former

Barry Eckel

Senior Director

Former

Name

Philip Martens

April Miller Boise

Marco Meliga

Gary Alstott

Barry Eckel

Work History

Title

President

Senior Vice President

Managing Director

Senior Director

Senior Director

Status

Former

Former

Former

Former

Former

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