Wabtec to Acquire Nordco

Pittsburgh-based Wabtec said on Tuesday that is has an agreement to buy Nordco from Greenbrier Equity Group or $400 million in cash. 

The Wisconsin-based Nordco is a supplier of rebuilt and used maintenance-of-way equipment.

This includes mobile rail-car movers and ultrasonic rail-flaw detection technology.

In a news release, Wabsco said the transaction has received regulatory approvals and is subject to customary closing conditions.

“This deal will significantly increase our presence in the maintenance-of-way segment and give us a strong position in the growing rail-car mover market,” said Pascal Schweitzer, president of Wabtec’s freight services group, in a statement.

Nordco is expected to have full-year 2021 sales of more than $175 million.

Wabtec said it is financing the acquisition through cash on hand and a revolving credit facility.

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