Wabtec Buys RELCO
Wabtec buys RELCO.
Wabtec Corporation buys RELCO Locomotives for $29 million.
RELCO was founded in 1961 by George Bachman to lease quality locomotives to railroads and industrial companies throughout the Midwest. In its earliest days, RELCO leased locomotives to customers and provided full maintenance.
George’s son, Don, forged the development of a field service division in the 1970s, ensuring their locomotive lease fleet and any warranty issues were fully handled. By the 1980s, their privately-owned fleet of leased locomotives was the largest in the nation.
The 1990s brought class one railroads’ focus on larger high horsepower locomotives, the growth of the Short Line Railroads, and aging medium horsepower and switcher fleets. RELCO began to fill the growing opportunity for remanufacturing locomotives. Its world-class shop facility in Albia can now build 23 locomotives at once.
Mark, the third generation of the Bachman family, keeps RELCO ahead of operational and technical curves. It has opened out to five times its original size. Even with far greater capabilities, its values, integrity, and the ultimate goal remains the same. Provide a complete package of motive power solutions to railroads and industry.
Rafael Santana of Wabtec said: ‘This acquisition will unlock tremendous value for our customers, employees, and shareholders. The complementary combination of our portfolios will create aftermarket services growth and the development of new, creative solutions to drive improved asset use and reduced operating cost for customers.’
Pascal Schweitzer of Wabtec added: ‘Today marks an exciting day for Wabtec’s services business and will further strengthen our portfolio. By leveraging Wabtec’s robust remote monitoring and diagnostics and predictive maintenance capabilities, as well as our focus on lean continuous improvement, we will build on RELCO’s deep product offering, a track record of service quality, and engineering creativity for locomotive modernization. We are excited about the long-term opportunities before us and are happy to welcome Mark Bachman and the RELCO team to the Wabtec family.’
Mark Bachman of RELCO said: ‘The combination of our teams is an excellent fit. Our joint companies share a common culture and values rooted in innovation, collaboration, inclusiveness, and continuous improvement. Together, we will expand our reach, strengthen our market capabilities and better serve the rail industry.’
Wabtec is a global provider of equipment, systems, digital solutions, and value-added services for freight and transit rail. Drawing on four centuries of collective experience across Wabtec, GE Transportation, and Faiveley Transport, its digital ability, tech innovation, manufacturing, and services enable digital-rail-and-transit systems. Their freight portfolio features a full line of locomotives, software apps, and a broad choice of mission-critical control systems, including Positive Train Control (PTC). The transit portfolio provides highly engineered systems and services to every major rail transit system around the world, supplying an integrated series of components for busses and all train-related market segments to deliver safety, efficiency, and passenger comfort. Along with its portfolio of products and solutions for the rail and transit industries, Wabtec is also a provider of mining, marine, and industrial solutions.
Wabtec Corporation buys RELCO Locomotives for $29 million.
RELCO was founded in 1961 by George Bachman to lease quality locomotives to railroads and industrial companies throughout the Midwest. In its earliest days, RELCO leased locomotives to customers and provided full maintenance.
George’s son, Don, forged the development of a field service division in the 1970s, ensuring their locomotive lease fleet and any warranty issues were fully handled. By the 1980s, their privately-owned fleet of leased locomotives was the largest in the nation.
The 1990s brought class one railroads’ focus on larger high horsepower locomotives, the growth of the Short Line Railroads, and aging medium horsepower and switcher fleets. RELCO began to fill the growing opportunity for remanufacturing locomotives. Its world-class shop facility in Albia can now build 23 locomotives at once.
Mark, the third generation of the Bachman family, keeps RELCO ahead of operational and technical curves. It has opened out to five times its original size. Even with far greater capabilities, its values, integrity, and the ultimate goal remains the same. Provide a complete package of motive power solutions to railroads and industry.
Rafael Santana of Wabtec said: ‘This acquisition will unlock tremendous value for our customers, employees, and shareholders. The complementary combination of our portfolios will create aftermarket services growth and the development of new, creative solutions to drive improved asset use and reduced operating cost for customers.’
Pascal Schweitzer of Wabtec added: ‘Today marks an exciting day for Wabtec’s services business and will further strengthen our portfolio. By leveraging Wabtec’s robust remote monitoring and diagnostics and predictive maintenance capabilities, as well as our focus on lean continuous improvement, we will build on RELCO’s deep product offering, a track record of service quality, and engineering creativity for locomotive modernization. We are excited about the long-term opportunities before us and are happy to welcome Mark Bachman and the RELCO team to the Wabtec family.’
Mark Bachman of RELCO said: ‘The combination of our teams is an excellent fit. Our joint companies share a common culture and values rooted in innovation, collaboration, inclusiveness, and continuous improvement. Together, we will expand our reach, strengthen our market capabilities and better serve the rail industry.’
Wabtec is a global provider of equipment, systems, digital solutions, and value-added services for freight and transit rail. Drawing on four centuries of collective experience across Wabtec, GE Transportation, and Faiveley Transport, its digital ability, tech innovation, manufacturing, and services enable digital-rail-and-transit systems. Their freight portfolio features a full line of locomotives, software apps, and a broad choice of mission-critical control systems, including Positive Train Control (PTC). The transit portfolio provides highly engineered systems and services to every major rail transit system around the world, supplying an integrated series of components for busses and all train-related market segments to deliver safety, efficiency, and passenger comfort. Along with its portfolio of products and solutions for the rail and transit industries, Wabtec is also a provider of mining, marine, and industrial solutions.
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