Wabtec Corp. (NYSE: WAB) is buying Fandstan Electric Group Ltd. for $215 million in cash.
London-based Fandstan designs, manufactures and installs elect5rical current and data-collection products for the rail transportation, industrial and energy markets. The company’s products include pantographs, third-rail shoe gears, electrical contacts and brush holders from brand names Brecknell Willis, Stemmann Technik and Transtech.
Wabtec, headquartered in Wilmerding, Pa., provides products and services to the rail and transportation industries. The company makes products for locomotives, freight cards and passenger transit vehicles.
The deal should expand Wabtec’s technology-products offerings for the rail industry, and allow Wabtec entry into the infrastructure market. In September, the company picked up Longwood Industries Inc., which makes rubber products.