WABCO Acquires Hydraulic Company, MICO

WABCO (NYSE: WBC), a leader in commercial vehicle safety and efficiency technologies, has acquired MICO Incorporated, a global market leader in hydraulic components, controls and brake systems for heavy-duty, off-highway vehicles in agriculture, construction, mining and similar industries.

MICO generated revenues of approximately $52 million in 2015 and is headquartered in North Mankato, Minnesota.

WABCO notes that it “is expanding its product offerings through the acquisition to become the first and only supplier with a portfolio of complete pneumatic and hydraulic braking and control systems for off-highway vehicles worldwide.”

The deal is also about synergies. WABCO’s strong global presence provides increased access to growth markets and customers worldwide for MICO products. In return, WABCO gains improved access to the off-highway market in North America while expanding its operational footprint in the region. Both companies will also be able to build on demonstrated world-class engineering and manufacturing capabilities.

MICO maintains a total of five locations in the United States (3), Mexico (1), and the United Kingdom (1) and has as approximately 260 employees. MICO was previously privately owned and operated.

Category: Breaks, Suspensions & Chassis, General Update