Bendix finalizes R.H. Sheppard sale to affiliate of Balmoral Funds
Bendix Commercial Vehicle Systems, a North American subsidiary of Knorr-Bremse, announced the company finalized the sale of its wholly owned subsidiary, commercial vehicle steering systems manufacturer R.H. Sheppard to an affiliate of Balmoral Funds, a Los Angeles-based private equity firm.
The transaction encompasses the entire Sheppard business, including Sheppard’s branded products, production equipment, sales and service companies, and interests in joint ventures relating to sales and production, according to a news release.
The transition involves approximately 680 employees across North America, including 600 at Sheppard’s longtime headquarters in Hanover, PA, all of whom will continue as employees of R.H. Sheppard.
The divestiture reinforces Bendix’s desire to focus more on its braking systems, vehicle dynamics, air and energy management, and innovative driver assistance systems. Balmoral will continue to offer Sheppard and integrate it with Bendix ADAS and brake systems.
Effective with the sale close, Bendix and Balmoral will begin a phased shift of operations and systems. The full changeover is expected to be completed over a period of up to one year.
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.