Wabtec Corp. (NYSE: WAB) has acquired Railroad Controls LP.
Railroad Controls, headquartered in Benbrook, Texas, provides railway signal construction services to freight and passenger railroads in North America. The company installs crossing warning signals, wayside and interlocking signals and train-control related equipment.
Wilmerding, Pennsylvania-based Wabtec provides products for the rail and industrial markets. The business also builds new switcher and commuter locomotives.
Wabtec has made multiple railroad-related acquisitions, including signal designer Xorail and systems engineer C2CE. In February 2014, the company bought Fandstan Electric Group, which makes data collection products for rail transportation and other markets, for $215 million. In 2012, Wabtec bought LH Group, a maintenance provider to the transit market, for $48 million.
Joe Conner, Frank Mountcastle and Jeff Burkett from Harris Williams & Co. were Railroad Controls' financial advisers.