Pittsburgh-based Wabtec Corp. announced its plans to acquire Nordco in a $400 million deal.
Nordco, based in Oak Creek, Wisconsin, employs about 400 people. It supplies maintenance of way equipment, including mobile railcar movers and ultrasonic rail flaw detection technologies, according to a news release.
“Nordco is a strategic addition to the Wabtec portfolio with an attractive pipeline of vertical solutions and strong aftermarket demand that will only be strengthened by our vast global footprint,” Rafael Santana, Wabtec president and CEO, said in a prepared statement. “This acquisition aligns with our growth strategy, is supported by a strong recurring revenue model, technology that complements our business, and is projected to deliver over $10 million in cost synergies for our stakeholders over the next three years.”