Wabtec Acquires L&M Radiator - Quick Facts

(RTTNews) - Wabtec (WAB) has acquired L&M Radiator, Inc., a manufacturer of heavy-duty equipment radiators and heat exchangers, for $230 million in cash, financed through cash on hand and a revolving credit facility. L&M Radiator will join as a part of Components Group.

Through the acquisition, Wabtec will expand its installed base and recurring revenue in mining, engine cooling, and heat transfer solutions.

The company expects L&M to be immediately accretive to EPS excluding transaction costs, further enhanced with strong synergies to be realized over the next three years.