Wabco to acquire US based Sheppard--supplier of CV technologies

Wabco Holdings Inc, a leading global supplier of technologies and services for commercial vehicles, has announced that it has signed an agreement to acquire privately held RH Sheppard Co., Inc., a key supplier of commercial vehicle technologies, including industry-leading vehicle steering capabilities, headquartered in Hanover, Pennsylvania, U.S.A.

The transaction is subject to customary U.S. regulatory clearance and it is expected to close by the end of the third quarter 2017. Wabco’s purchase price is $145 million, subject to customary adjustments. Sheppard had sales of $130 million in 2016.

A key tier-one supplier in North America, Sheppard offers a suite of power-steering gears that has set the industry standard for heavy-duty commercial and specialty vehicles. Employing more than 900 persons, Sheppard also provides precision engineered engine pumps and state-of-the-art remanufacturing services. In addition, the company is vertically integrated with its own manufacturing and advanced foundry capabilities, which Wabco expects to use for some of its products.