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Rail News: Railroading Supplier Spotlight

Wabtec to sell one-tenth of outstanding stock in secondary offering


On Oct. 23, Wabtec Corp. announced plans to sell 4.8 million shares of common stock — 11.1 percent of total outstanding shares — in an underwritten secondary offering.

The shares will be offered by Charlesbank Equity Fund II L.P., successor to Harvard Private Capital Holdings Inc., Vestar Equity Partners L.P. and Vestar Capital Partners Inc., which have held the shares since 1997.

Wabtec plans to grant underwriters Credit Suisse First Boston and Morgan Stanley, along with BB&T Capital Markets and Morgan Keegan & Co., an over-allotment option to purchase up to an additional 726,900 shares.

Wabtec supplies products for locomotives, and freight and passenger cars; builds switcher and commuter locomotives; and provides locomotive, and freight- and passenger-car aftermarket services.

Contact Progressive Railroading editorial staff.

More News from 10/23/2003