Sonnax Industries, Inc. is pleased to announce the sale of its assets to a newly-created subsidiary of Marmon Holdings, Inc., a Berkshire Hathaway company. The new company will operate as Sonnax Transmission Company. Terms of the acquisition were not disclosed.
As an employee-owned company, the sale was overwhelmingly approved by vote of Sonnax employees. Steve Boyer becomes President of Sonnax Transmission, and will work closely with Sonnax Industries CEO Tommy Harmon to ensure a smooth transition into Marmon.
“Joining Marmon affords Sonnax employees the support and stability of a very successful global organization while maintaining its homegrown, entrepreneurial feel,” Harmon said. “Above all, this expands what we can deliver to our customers, so our future is bright.”
Marmon Holdings comprises about 175 independent manufacturing and service businesses with facilities in 23 countries and total revenues exceeding $7.7 billion in 2017. Marmon is a subsidiary of Berkshire Hathaway, one of the world’s largest, most successful, and most highly respected companies.
Sonnax Transmission joins Marmon’s Automotive Aftermarket group, whose businesses are well known for providing innovative, engineered solutions for aftermarket installers.