Allison Transmission did not go out of business; rather, it has operated as an independent, thriving global enterprise since General Motors divested the division in 2007 to private equity firms Onex Corporation and The Carlyle Group. Following its successful private tenure, Allison Transmission Holdings Inc. completed an initial public offering in 2012 and continues to trade as a highly profitable public corporation headquartered in Indianapolis, Indiana, supplying advanced propulsion solutions worldwide.