Rail supplier news from Wabtec, Frauscher, RR Mergers, Rapid Track and American Track (July 7)

Wabtec Corp. today announced that it has signed a definitive agreement to acquire Frauscher Sensor Technology Group GmbH, a global market leader in train detection, wayside object control solutions and axle counting systems. The acquisition strengthens Wabtec's digital intelligence business by adding complementary railway signaling technologies, Wabtec officials said in a press release. Wabtec will acquire Frauscher for 675 million euros in cash. “Frauscher has an industry leading portfolio that offers a rare combination of innovative technology, sustained growth, and strong and resilient profitability," said Wabtec President and CEO Rafael Santana.

RR Mergers & Acquisitions, a middle-market investment bank specializing in advisory services for railroad service and supplier companies, announced the sale of Rapid Track Service Inc. to American Track. Headquartered in Tyrone, Georgia, Rapid Track Service provides rail maintenance and repair services in the southeastern United States. Following the acquisition, Rapid Track Service President Shannon Shockley will continue to lead the business, ensuring continuity of leadership and service excellence, RR officials said in a press release. Financial terms were not disclosed.