PITTSBURGH — Rail technology provider Wabtec (NYSE: WAB) will acquire Dellner Couplers, manufacturer of equipment and services for passenger rail rolling stock, in a $960 million deal, the companies announced Tuesday.
Dellner, based in Sweden, has an 84-year history in train connection systems, with about 100,000 couplers and 12,500 gangways installed worldwide. It has production, assembly and aftermarket service facilities in 13 countries, employing more than 1,200 people and serving more than 200 customers.
“Dellner Couplers provides significant synergies by complementing our core Transit systems portfolio, servicing a joint customer base, and leveraging our strong service capabilities,” Wabtec CEO Rafael Santana said in a press release. “This acquisition aligns very well with our stated growth strategies to accelerate the innovation of scalable technologies, expand high margin recurring revenues, and to drive improved operational performance.”
The transaction is a cash acquisition, financed through cash on hand and short-term debt. Dellner is expected to generate approximately $250 million in revenue in 2025 with growth expected that will exceed its average over the next five years. The transaction is subject to customary closing conditions and regulatory approvals.
“This acquisition will significantly enhance the capabilities of our transit business, allowing us to provide an attractive offering for customers and opening further opportunities for expansion,” said Pascal Schweitzer, president of Wabtec Transit. “The strength of Dellner Couplers’ portfolio of products and services, along with the management team’s track record of delivering industry-leading financial results, will accelerate our long-term profitable growth strategy.”
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