Baird's Investment Banking Group is pleased to announce the following transaction:

April 2021
Nordco Holdings, LLC
Sale to Wabtec Corporation
Baird served as the exclusive financial advisor to Nordco Holdings, LLC on this transaction

Nordco Holdings, LLC (“Nordco”), a portfolio company of Greenbriar Equity Group LP (“Greenbriar”), was recently acquired by Wabtec Corporation ("Wabtec") (NYSE: WAB) for $400 million.

Nordco provides an extensive selection of products and services that enable rail-related industries to build, improve, maintain and inspect their track infrastructure and reposition rolling stock. Nordco’s two main business units, Roadway Work Equipment and Mobile Material Handling are supplemented by its Non-Destructive Inspection Technologies business, providing a comprehensive portfolio of rail maintenance equipment and railcar movers, specialized inspection technology solutions and a full line of aftermarket parts and services. Nordco’s equipment and services support the North American Class I railroads, short-line and transit authorities, equipment leasing companies and leading industrial customers.

Greenbriar is a private equity firm focused on investments in market leading services and manufacturing businesses with proven management teams capitalizing on strong long-term growth prospects that can benefit from its deep sectoral expertise and strategic insight alongside its operating capabilities and network of senior executive relationships. Greenbriar has managed over $6 billion of total committed capital across five investment funds since 2001.

Wabtec Corporation is a leading provider of equipment, systems, digital solutions and value-added services for freight and transit rail. Drawing on nearly four centuries of collective experience across Wabtec, GE Transportation and Faiveley Transport, the company has unmatched digital expertise, technological innovation, and world-class manufacturing and services, enabling the digital-rail-and-transit ecosystems. Wabtec is focused on performance that drives progress, creating transportation solutions that move and improve the world. Along with its industry-leading portfolio of products and solutions for the rail and transit industries, Wabtec is a leader in mining, marine, and industrial solutions. Based in Wilmerding, Pennsylvania, Wabtec has approximately 27,000 employees in facilities throughout the world.

For additional information about this transaction, please contact:

Mike Lindemann +1-414-298-7408
Dan Pelech +1-414-298-1940
Chris McMahon +1-312-609-4983
Tom Lacy +1-414-298-7648
Thomas Fetzer +49-69-1301-4920
Satoshi Matsumoto +1-646-557-3201