The parent company of Bendix, Knorr-Bremse AG, has entered into a definitive agreement to buy R.H. Sheppard Co., Inc. for $149.5 million.
Sheppard is a supplier of steering technologies for commercial vehicles. The closing of the acquisition is subject to closing conditions and regulatory approvals and is contingent upon the closing of the ZF acquisition of WABCO.
The move follows the spring 2019 acquisition of the commercial vehicle steering division of Hitachi Automotive Systems in Japan by Knorr-Bremse, and the company says will help cement its position as a global supplier of integrated steering and braking systems as a basis for driver assistance systems and highly automated driving.
“For Knorr-Bremse, the acquisition of Sheppard is another important step in our strategy to become a global manufacturer of steering systems for commercial vehicles,” said Dr. Peter Laier, member of the executive board of Knorr-Bremse AG responsible for the commercial vehicle systems division. “With an integrated steering and braking systems for commercial vehicles, we can realize globally expanded functions in driver assistance and automated driving together with our customers and leverage cost potential through system integration.”
“The Sheppard product portfolio will further enable us to better respond to the requirements of North American customers in the different market segments and to offer tailor-made system solutions for the full range North American commercial vehicles,” said Michael J. Hawthorne, Bendix president and CEO.
