Bearward Engineering – turnover of £50million, 600 employees
We advised Bearward Engineering on its sale to Wabtec Corporation, a leading US engineering company.
Bearward Engineering is one of the largest producers of industrial radiators in the world with about 600 employees and annual turnover of around £50 million.
Based in Northampton, Bearward Engineering designs and manufactures cooling systems and related components, including radiators and charge air coolers.
Bearward have a customer base covering the main manufacturers in the power generation and construction market including Caterpillar, Cummins, MTU, and Mitsubishi.
The deal will strengthen Wabtec’s product line and their geographic reach in Europe. Wabtec employs over 7,000 people and operates from around fifty manufacturing plants located throughout the world. Formerly part of Westinghouse, Wabtec is listed on the New York Stock Exchange.
Ian Morris, Principal at EMW, comments: “We are delighted to have been involved in this very significant transaction, which brings together two major players in the industrial and power generation markets.”
“Wabtec and Bearward Engineering are each leaders within their respective markets and their service lines complement each other. Together they are sure to enhance their products and strengthen their customer base.”
Our team was led by Ian Morris and Simon Arkell. Reed Smith acted for Wabtec.
© EMW 2012