Wabtec Corporation has acquired Unifin International from Koch Chemical Technology Group LLC for $93 million. A leading manufacturer of cooling systems and related equipment for the power generation and transmission industry, Unifin has annual sales of about $45 million. Wabtec expects the transaction to be accretive in the first year.
"Unifin is a strategic complement to our Young Touchstone business unit, which is already well established in the industrial cooling systems market," said Albert J. Neupaver, Wabtec's president and chief executive officer. "The combination of our existing products and technology with Unifin's product line and aftermarket presence strengthens our worldwide position in the industrial cooling systems market, which we believe offers long-term stability and growth potential. In addition, this acquisition further diversifies Wabtec's business model into an adjacent market where we have proven technology and experience. We plan to continue to explore other niche opportunities worldwide to expand our cooling systems business."
Unifin designs and manufactures a variety of cooling systems and related components, including oil coolers and pumps. The company's customers include utilities and original equipment manufacturers of power generation and distribution equipment, primarily in North America. Unifin has about 100 employees at three facilities, two in the U.S. and one in Canada.
Wabtec Corporation is a global provider of value-added, technology-based products and services primarily for the rail and transit industry. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services. Wabtec has facilities located throughout the world.
Koch Chemical Technology Group is a wholly owned subsidiary of Koch Industries Inc., based in Wichita, Kan.
