Wabtec to acquire G&B Specialties, Bach-Simpson

Written by jrood

Wabtec Corp. has signed an agreement to acquire G&B Specialties, Inc., and Bach-Simpson Corp. from Global Railway Industries Ltd., for about $45 million. Subject to the fulfillment of certain conditions, the purchase of G&B Specialties is expected to close by July 31, and the Bach-Simpson purchase is expected to close by Oct. 31. Wabtec expects the acquisitions to be accretive in the first year.

With combined revenues of
about $30 million, G&B Specialties manufactures railroad track and
signaling products, while Bach-Simpson designs and builds electronic
instrumentation devices for rail and transit markets.

"G&B and
Bach-Simpson will be a good strategic fit and offer solid growth
potential," said Albert J. Neupaver, Wabtec’s president and chief
executive officer. "We view G&B as complementary to our recent
acquisition of Xorail, and Bach-Simpson strengthens our market position in
railway electronics."

Based in Berwick, Pa.,
G&B manufactures a variety of track and signaling products, including
electric switch components, switch machine layouts, electric locks, junction
boxes and railgear equipment. Customers include railroads and original
equipment manufacturers of track and signal infrastructure. The company was
founded in 1979 and has about 100 employees.

Bach-Simpson, based in
London, Ontario, is a leading supplier of safety-related instrumentation for
locomotives and transit cars, such as event data recorders and speed
indicators. Founded in 1946, the company’s customers include railroads, transit
authorities and original equipment builders of locomotives and transit cars.
Bach-Simpson has about 40 employees.

Wabtec Corp. is a
global provider of value-added, technology-based products and services for rail
and other industrial markets. Through its subsidiaries, the company
manufactures a range of products for locomotives, freight cars and passenger
transit vehicles.

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