US-based rail parts manufacturer Wabtec has for $48m acquired UK company LH Group, provider of maintenance and overhaul services to the passenger transit market.
LH Group provides diesel multiple unit (DMU) passenger rail products and services, including key power-train equipment to all major rail infrastructure operators across the UK.
The company also produces renovated power packs, cooler groups, diesel engines, transmissions, final drives and bogies.
LH Group has annual sales of $65m and its customers include rolling stock operators and original equipment manufacturers, with 10% of its sales coming in non-rail markets.
Wabtec president and chief executive officer Albert Neupaver said: "LH complements and strengthens our existing aftermarket presence in the UK by enabling us to offer complete overhaul services for a variety of passenger transit vehicles and components, including engines and transmissions."
The acquisition follows Wabtec's July 2012 purchase of Tec Tran, a manufacturer of hydraulic braking systems and related components, including calipers, power units, electronic controls and brake discs, for both new and aftermarket applications.
Tec Tran designs and manufactures hydraulic braking systems and related components, including calipers, power units, electronic controls and brake discs, for both new and aftermarket applications.