Wabtec buys U.K. rail company for $48M
Wabtec Corp. of Wilmerding said on Tuesday it acquired a U.K.-based passenger rail service and maintenance company for $48 million in cash.
LH Group, based near Birmingham, England, overhauls diesel engines, transmissions and power packs, with annual sales of about $65 million. The business and its 350 workers will form a separate Wabtec division in England, said spokesman Tim Wesley.
The acquisition “complements and strengthens” Wabtec's existing aftermarket presence in the U.K. known as Wabtec Rail and Brush Traction, said Wabtec CEO Albert Neupaver.
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