PITTSBURGH — Wabtec will acquire Dellner Couplers, manufacturer of equipment and services for passenger rail rolling stock, in a $960 million deal, the companies announced today (March 18, 2025).
Dellner, based in Sweden, has an 84-year history in train connection systems, with about 100,000 couplers and 12,500 gangways installed worldwide. It has production, assembly, and aftermarket service facilities in 13 countries, employing more than 1,200 people and serving more than 200 customers.
“Dellner Couplers provides significant synergies by complementing our core Transit systems portfolio, servicing a joint customer base, and leveraging our strong service capabilities,” Wabtec CEO Rafael Santana said in a press release. “This acquisition aligns very well with our stated growth strategies to accelerate the innovation of scalable technologies, expand high margin recurring revenues, and to drive improved operational performance.”
The transaction is a cash acquisition, financed through cash on hand and and short-term debt. Dellner is expected to generate approximately $250 million in revenue in 2025 with growth expected that will exceed its average over the next five years. The transaction is subject to customary closing conditions and regulatory approvals.
“This acquisition will significantly enhance the capabilities of our transit business, allowing us to provide an attractive offering for customers and opening further opportunities for expansion,” said Pascal Schweitzer, president of Wabtec Transit. “The strength of Dellner Couplers’ portfolio of products and services, along with the management team’s track record of delivering industry-leading financial results will accelerate our long-term profitable growth strategy.”
More on Dellner Couplers is available at its website.
Note that the EQT VIII fund has agreed to sell Dellner Couplers to Wabtec Corporation. During EQT’s ownership, Dellner Couplers has developed into a global leader in train connections systems, promoting safe and sustainable rail transportation.
Dr. Güntürk Üstün
Another good job accomplished for this hefty American rail technology provider.
Dr. Güntürk Üstün
OK, so Wabtec is still (supposedly) int he business of making locomotives for commuter railroads (and of course, has taken over GE’s freight locomotive business). I’m not sure what purpose the Dellner acquisition is going to give them, unless they’re going into the passenger railcar business. I mean, a gangway between the locomotive and the head-end passenger car? Probably won’t get a lot of use int he real world.
Or, are they going to sell parts to Siemens, et al?
Well, Jay, interesting questions.
I have a further question: does the Swedish company currently have any markets here in North America? The article (above) mentions “worldwide” business, but in rail, “worldwide” can mean anywhere/ everywhere except USA and Canada.
If anyone reading these pages has ever heard of this company (I haven’t) they can chime in.
Maybe a visit to Dellner Coupler’s website at “www.dellner.com” might be helpful.
Dr. Güntürk Üstün