US rail manufacturer Wabtec has acquired Bloom Engineering, a provider of industrial heating solutions, to bolster its heat transfer and energy solutions portfolio.
The acquisition, completed in the fourth quarter (Q4) of financial year 2024 for $69m in cash, was financed through available cash and a revolving credit facility.
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As part of the transaction, Bloom Engineering will be integrated into Wabtec’s Freight and Industrial Components Group.
This move integrates Bloom’s burner and combustion system technologies into Wabtec’s product range, aiming to accelerate growth in this market segment.
Headquartered in Pittsburgh, US, Bloom Engineering offers custom-engineered industrial combustion products since it was founded in 1934 by Fred Bloom.
With a footprint that includes the US, Germany, India, and China, the company has secured more than 80 patents in combustion and furnace technology.
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By GlobalDataBloom’s design and engineering expertise is expected to complement Wabtec’s existing capabilities.
Wabtec Freight & Industrial Components Group president Mike Fetsko said: “Bloom Engineering is a great fit within our Heat Transfer and Energy Solutions business, and we already serve many of the same customers.
“Our shared vision toward driving customer productivity within their industrial processes will enable us to deliver a more comprehensive portfolio for our customers to operate more efficiently and sustainably.”
In October 2024, Wabtec completed a $405m agreement to deliver Evolution Series ES44ACi locomotives to Kazakhstan Temir Zholy (KTZ), the national railway company of Kazakhstan.
The deal is considered a significant modernisation for KTZ’s ageing fleet, aimed at addressing the growing demand for rail transport in the region.
Also last year, Wabtec launched a new brake lining technology to be fitted to RER trains in Paris, France, its first commercial deployment.
The new tool is designed to reduce particulate matter emissions from the brakes, which causes air quality issues and health concerns in tunnels and metro stations.
Wabtec also opened a new manufacturing campus in India last year. The plant in Rohtak, Haryana state, will produce rail components and subsystems such as axle-mounted disc brake systems, distributor valves, brake callipers, and actuators.
