Wabtec acquires Fanox and Kompozitum to expand its transit product portfolio
Wabtec Corporation (Wabtec Transit) acquired Fanox and Kompozitum to add to its transit industry profile. These additions will work to expand Wabtec’s business capabilities, product portfolio and customer base.
“We are excited about bringing the capabilities of Fanox and Kompozitum to our transit business,” said Wabtec Transit President Pascal Schweitze. “These acquisitions align with our strategy by bringing in technologies that are complementary to our product portfolio, positioning the business for accelerated, profitable revenue growth. It also enhances Wabtec’s mission to provide our customers with next-generation solutions that improve efficiency, performance and reliability.”
Wabtec says the Fanox acquisition will help to strengthen its existing operations in the production of specialized relays for on-board train operations and other industrial applications, expanding its customer base and recurring revenue.
The addition of Kompozitum allows Wabtec to improve the manufacturing efficiency, quality and competitiveness of its industry leading pantograph portfolio, while opening new markets for its carbon and graphite solutions, according to the company.
Wabtec is acquiring the two companies for a combined $110 million cash transaction, financed through cash on hand and a revolving credit facility. The company says it expects the acquisitions to drive strong synergies and to be immediately accretive to EPS excluding transaction costs.
