MUNICH, Germany – Knorr-Bremse, a leading supplier of braking systems and other technologies for rail and commercial vehicles, announced the close June 1st of the acquisition of R.H. Sheppard Co., Inc.
Knorr-Bremse acquired Sheppard for $149.5 million from WABCO Holdings Inc., USA, which sold Sheppard in connection with the acquisition of WABCO by ZF Friedrichshafen AG. The acquisition of Sheppard was transacted by Bendix Commercial Vehicle Systems LLC, a North America-based subsidiary of Knorr-Bremse.
“The acquisition of Sheppard is another important step for Knorr-Bremse in our strategic drive to become a leading global supplier of commercial vehicle steering systems,” said Dr. Peter Laier, Member of the Executive Board of Knorr-Bremse AG responsible for the Commercial Vehicle Systems division. “With Sheppard as a leading commercial vehicle steering supplier in the North American market now joining Knorr-Bremse, this opens further opportunities for us as a market leader in braking and driver assistance systems,
Knorr-Bremse to acquire R.H. Sheppard Co.
“New advanced driver assistance functions and automated driving solutions require complete control of commercial vehicle dynamics and the related actuators for braking and steering. The combination of Sheppard’s expertise in the field of recirculating ball (RCB) steering systems and Knorr-Bremse’s global brake control expertise and systems know-how forms the ideal basis for the introduction of torque overlay steering (TOS) systems and a broad range of DAS/HAD functions, particularly in the North American market.
The transaction involves the entire Sheppard business, including Sheppard’s branded products, manufacturing facilities, sales and service operations, and its interest in joint ventures related to supply and manufacturing. R.H. Sheppard Co., Inc. will now form an operating unit of Bendix and retain use of the Sheppard brand name. The operational integration is expected to take 18 to 24 months to complete.
“Responsiveness and value for our customer is at the heart of Bendix, and R.H. Sheppard,” said Mike Hawthorne, Bendix president and CEO. “Today we begin a new chapter in our story. This is truly an outstanding opportunity to offer an even more comprehensive range of premier products, performance, and expertise to more effectively serve the needs of our North American and global customer base. Adding Sheppard to our business is evidence of our continued commitment to offer products and services that help improve highway safety and advance the path of expanded driver assistance systems, automated driving systems, and enhanced vehicle performance available through system integration.”
The entire Knorr-Bremse announcement can be viewed by clicking HERE.