Wabtec acquires Fandstan Electric Group for $215m
Wabtec Corporation has signed an agreement to acquire Fandstan Electric Group, a London-based rail and industrial equipment manufacturer, for approximately $215m in cash.
Fandstan Electric has annual sales of about $235m.
Fandstan Electric designs, manufactures and installs electrical current and data collection products for a variety of markets, including rail and tram transportation, industrial and energy.
The company’s products include pantographs, third rail shoe gears, electrical contacts and brush holders.
Fandstan Electric has about 1,000 employees and operations in the UK, Europe, China, Australia, and the US.
Pennsylvania-based Wabtec is active in the manufacture of technology-based products and services for the rail and transit industry.