Pittsburgh-based Wabtec Corp., an equipment, systems, digital solutions and services provider for the freight and transit rail industries, recently purchased Minnesota-based L&M Radiator, Inc., a heavy-duty equipment radiators and heat exchangers manufacturer, for $230 million.
L&M Radiator operates in the United States, Australia, Chile and Mexico. The purchase allows Wabtec to expand its presence and revenue in mining, engine cooling, and heat transfer solutions, and will allow Wabtec to increase long-term profitable growth for L&M’s products domestically and internationally.
“We are excited to welcome L&M Radiator to Wabtec,” Mike Fetsko, Wabtec Freight and Industrial Components business president, said. “This transaction will further Wabtec’s presence in premium heat transfer solutions and will extend and complement Wabtec’s mining products portfolio. In addition, L&M’s technology further enhances Wabtec’s mission to develop clean energy solutions for operations in mining.”
L&M Radiator will become part of Wabtec’s Components Group.
“This deal is a recognition of L&M’s industry success for more than 65 years and positions our worldwide operations to continue to thrive,” Dan Chisholm, L&M Radiator president, said. “By joining Wabtec, we can build upon the strengths of our two companies to develop new cooling products for our customers while supporting consistent growth as an industry leader.”