Thursday, September 26, 2013

Wabtec acquires Longwood

Written by  William C. Vantuono, Editor-in-Chief

Wabtec Corp. has acquired Longwood Industries, Inc., a manufacturer of specialty rubber products for transportation, oil and gas, and industrial markets, with annual sales of about $70 million. Wabtec expects the transaction to be accretive in the first year.

Longwood designs and manufactures a broad line of specialty rubber products for original equipment manufacturers and aftermarket applications. Its products include highly specialized diaphragms and seals used in equipment such as pumps, valves, and shock absorbers. The company has a particular expertise in developing and manufacturing custom solutions for bonding rubber to metal and rubber to fabric.

Longwood has about 450 employees, and facilities in the U.S. and Europe, including a Research & Development Center in Texas.

“With its diverse end markets and technical expertise, Longwood will be a strategic complement to our existing rubber products businesses, which also serve transportation and industrial markets,” said Wabtec Chairman and CEO Albert J. Neupaver. “We will benefit from Longwood’s capabilities and market position in the oil and gas sector, and we expect to use our global presence to expand its international sales.”