Wabtec Corporation is to acquire Nordco, a North American supplier of new, rebuilt and used maintenance of way equipment with a broad product and service portfolio including mobile railcar movers and ultrasonic rail flaw detection technologies, from Greenbriar Equity Group LP.
Through the acquisition, Wabtec will expand its installed base and accelerate growth across Nordco’s innovative product portfolio both domestically and internationally, while driving increased value creation for customers and shareholders. The acquisition has received necessary regulatory approvals and is subject to customary closing conditions.
“Nordco is a strategic addition to the Wabtec portfolio with an attractive pipeline of vertical solutions and strong aftermarket demand that will only be strengthened by our vast global footprint,” says Rafael Santana, Wabtec President and CEO. “This acquisition aligns with our growth strategy, is supported by a strong recurring revenue model, technology that complements our business, and is projected to deliver over USD10 million in cost synergies for our shareholders over the next three years.”
Source: Private Equity Wire
