Wabtec acquires Bearward Engineering, a UK-based manufacturer of cooling systems
Written by jrood
Wabtec Corporation has acquired Bearward Engineering, a manufacturer of cooling systems and related equipment for power generation and other industrial markets. Based in Northampton, England, Bearward has annual sales of about $70 million. Wabtec expects the transaction to be accretive in the first year.
"Bearward is a strategic complement to our existing thermal
management business, which is already well established in the power
generation and industrial cooling systems markets," said Albert J.
Neupaver, Wabtec’s president and chief executive officer. "Combining
our existing products and technologies with Bearward’s product line and
European presence strengthens our worldwide position in the industrial
cooling systems market, which we believe offers long-term stability and
growth potential."
Founded in 1958, Bearward designs and
manufactures a variety of cooling systems and related components,
including radiators and charge air coolers. The company’s customers
include manufacturers in the power generation, off-highway and
construction markets worldwide. Bearward has about 600 employees.
