Wabtec Expands With Unifin Acquisition

Railroad services provider Wabtec Corp. has purchased Unifin International in a $93 million deal. Unifin had been owned by Koch Chemical Technology Group LLC.

Wabtec President Albert J. Neupaver noted that Unifin is a "strategic complement to our Young Touchstone business unit, which is already well-established in the industrial cooling systems market."

Unifin, which has annual sales of about $45 million, designs and manufactures cooling systems and related components for the power generation and transmission industry. Neupaver said the acquisition 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."