Wabtec buying G&B Specialties, Bach-Simpson
Written by William C. Vantuono, Editor-in-ChiefWabtec Corp. announced Wednesday that it has agreed to buy G&B Specialties, Inc., and Bach-Simpson Corp., from Global Railway Industries Ltd., for $5 million. The G&B Specialties purchase is expected to close by July 31, and the Bach-Simpson purchase by Oct. 31.
The two companies have combined annual revenues of about $30 million. G&B Specialties manufactures track and signaling products. Bach-Simpson builds electronic instrumentation devices for freight rail and transit systems.
"G&B and Bach-Simpson will be a good strategic fit and offer solid growth potential," said Albert J. Neupaver, Wabtec’s president and chief executive officer. "We view G&B as complementary to our recent acquisition of Xorail, and Bach-Simpson strengthens our market position in railway electronics."
G&B is based in Berwick, Pa.; its products include electric switch components, switch machine layouts, electric locks, junction boxes, and rail gear equipment. Founded in 1979, the company employs about 100 people.
Bach-Simpson, based in London, Ont., has about 40 employees. Its products include event data recorders and speed indicators.
