Heavy-duty truck parts remanufacturer and distributor TransAxle will shut down after 46 years in business, following an unsuccessful search for a buyer, according to numerous news reports.

Based in Cinnaminson, NJ, TransAxle plans to close 13 locations by the end of August, resulting in the layoff of 209 employees. The affected positions include drivers, shop managers, mechanics, machinists, warehouse associates and team leads. Reports said the layoffs are expected to begin in late July and continue through the end of 2025.

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TransAxle filed a Worker Adjustment and Retraining Notification (WARN) notices in several states, citing its inability to secure a buyer as the reason for its closure. However, according to multiple reports, the company did not disclose why it was seeking a buyer. Strass Borelli law firm is investigating whether TransAxle complied with the WARN act obligations, which require a 60-day advance written notice for certain workforce reductions.

Established in 1979, TranAxle operated 28 distribution centers and six remanufacturing facilities, serving commercial customers with remanufactured transmission, differentials and other driveline components. The company was acquired by private equity firm Crossplane Capital in 2020.