Pittsburgh-based Wabtec Corporation, a equipment, systems, digital solutions and value-added services provider for the freight and transit rail industries, recently announced it has entered into an agreement to purchase Sweden-based Dellner Couplers, a safety-critical train connection systems and services provider for passenger rail rolling stock, for $960 million in cash.
“This acquisition will significantly enhance the capabilities of our transit business, allowing us to provide an attractive offering for customers and opening further opportunities for expansion,” Pascal Schweitzer, Wabtec transit president, said. “The strength of Dellner Couplers’ portfolio of products and services, along with the management team’s track record of delivering industry-leading financial results will accelerate our long-term profitable growth strategy.”
The purchase brings complementary technologies to Wabtec’s portfolio; builds on the company’s position in the expanding sustainable megatrends market; is part of the company’s strategy to drive innovation, productivity, safety and reliability for passenger rail on a global scale; and positions the company for accelerated, profit growth.
Dellner Couplers serves original equipment manufacturers, operators, and independent maintenance and repair providers. It provides couplers and gangways for passenger rail rolling stock, and employs more than 1,200 people in 17 offices worldwide.
The deal is subject to customary closing conditions and regulatory approval.