BRUSSELS, Belgium – Wabco Holdings announced today that it has signed an agreement to acquire privately held RH Sheppard.

The transaction is subject to customary U.S. regulatory clearance and it is expected to close by the end of the third quarter 2017. Wabco’s purchase price is $145 million, subject to customary adjustments.

Sheppard had sales of $130 million in 2016. It offers a suite of power-steering gears that has set the industry standard for heavy-duty commercial and specialty vehicles.

“This acquisition represents another key milestone as Wabco advances toward enabling self-driving commercial vehicles,” said Jacques Esculier, Wabco chairman and chief executive officer. “We have a clear line of sight on the fundamental technologies – such as active steering, active braking, electronic stability control and other advanced driver assistance systems – which will enable significant intermediary steps on our industry’s path to realize fully autonomous driving.”

“We are excited at the prospect of joining Wabco,” said Oliver Hoar, president and chief executive officer, Sheppard. “Our leading technologies will be fully integrated into the strategy of this industry leader on a journey to create opportunities for further growth in North America and globally.”