Friday, June 15, 2012

Wabtec makes $88 million acquisition

Written by  Luther S. Miller, Senior Consulting Editor

Wabtec Corp. announced Thursday that it has acquired Mors Smitt Holding, a global provider of electronic components for rail and industrial markets, from Eurazeo PME, for about $88 million.

With annual sales of about $60 million, Mors Smitt has operations in The Netherlands, the United Kingdom, the U.S., France, and China.

"Mors Smitt provides a variety of safety-critical components and will be a strategic complement to our existing rail and industrial product lines," said Albert J. Neupaver, Wabtec's president and CEO. "The company's global presence adds to our international footprint with established manufacturing and distribution capabilities."

With roots dating to 1898, Mors Smitt makes electronic relays, measurement devices, and controls for railway rolling stock and signaling plus such other applications as power generation, petrochemical, and water treatment plants. It has about 350 employees.