UK Based LH Group is Bought by US Wabtec for $48 Million
The UK engineering firm LH, which overhauls diesel engines, transmissions, powerpacks and bogies has been bought by Wabtec, the US rail vehicle engineering company for $48 million.
One-stop-Shop for Rail Vehicle Overhauls
The move sees LH join a list of other UK engineering firms to be bought by Wabtec, including Brush Traction and Bearwood Engineering Ltd in 2011. This latest acquisition will further Wabtec’s position in the UK market as a one-stop-shop for rail vehicle overhauls.
Wabtec’s presdient and CEO, Albert J. Neupaver said of the acquisition “LH complements and strengthens our existing aftermarket presence in the UK by enabling us to offer complete overhaul services for a variety of passenger transit vehicles and components, including engines and transmissions. In addition, the company’s engineering skills, focus on quality and long-standing customer relationships make LH a good fit with Wabtec.”