Wabtec buys LH Group for US$48m
UK: Wabtec Corp announced the US$48m acquisition of diesel engine, transmission and bogie overhaul and industrial locomotive supplier LH Group on October 2. The LH Group companies are to become part of Wabtec Rail Group, which includes Wabtec Rail Ltd, Wabtec Rail Scotland and Brush Traction.
Based at Barton under Needwood in Staffordshire, LH has around 350 employees and annual sales of US$65m, about 10% of which are in non-rail markets. Wabtec expects the transaction to be accretive in the first year.
Wabtec said LH would be a good fit with the Wabtec Rail passenger stock overhaul and refurbishment business which it acquired in 1998, and the Brush Traction locomotive business bought in 2011. 'LH complements and strengthens our existing aftermarket presence in the UK by enabling us to offer complete overhaul services for a variety of passenger transit vehicles and components, including engines and transmissions', said Albert J Neupaver, Wabtec President & CEO. 'In addition, the company's engineering skills, focus on quality and long-standing customer relationships make LH a good fit with Wabtec.'
- Wabtec has acquired Keelex 351 Ltd, which includes LH Group Holdings Ltd, LH Group Services Ltd, LH Group Wheelsets Ltd, J & D Gears Ltd, Coleman UK Group Ltd, Coleman Hydraulics Ltd, LH Plant (Burton) Ltd, LH Access Technology Ltd, Envirotech Research Ltd, TP (Powder Coating) Ltd, Coleman Manufacturing Ltd, Hunslet Engine Co Ltd and Parts Supply Ltd.