Wabtec Corporation has agreed to acquire Nordco, a North American supplier of new, rebuilt and used maintenance of way equipment with a broad product and service portfolio including mobile railcar movers and ultrasonic rail flaw detection technologies, from Greenbriar Equity Group LP. Through the acquisition, Wabtec seeks to expand its installed base and accelerate growth across Nordco’s innovative product portfolio both domestically and internationally, while driving increased value creation for customers and shareholders.

“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,” said Rafael Santana, Wabtec president and CEO. “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 shareholders over the next three years.”

Pascal Schweitzer, president of Wabtec’s freight services group, said: “We are excited to welcome Nordco to Wabtec in an acquisition that accelerates our long-term profitable growth strategy. This deal will significantly increase our presence in the maintenance of way segment and give us a strong position in the growing railcar mover market. Our combination provides an attractive offer for customers and opens further opportunities for international expansion.”

Baird served as financial advisor to Nordco. Jones Day provided legal services to Wabtec and Hughes Hubbard & Reed LLP provided legal services to Nordco.