Wabtec
Wabtec on Dec. 30 reported acquiring Bloom Engineering, Inc., “to strengthen its heat transfer and energy solution portfolio” with advanced technologies in burners, combustion systems, and overall services for industrial and process heating applications. The $69 million sale—“financed through cash on hand and a revolving credit facility”—took place in the fourth quarter.
“Bloom Engineering’s extensive design and engineering expertise complements Wabtec’s existing capabilities,” Wabtec said. “The world’s leading metal producers have relied on Bloom to identify ways to improve efficiencies, unlock production capacity in their plants, and decrease CO2 and NOX emissions.”
Bloom Engineering will become part of Wabtec’s Freight and Industrial Components Group. It is expected “to be immediately accretive to EPS excluding transaction costs, further enhanced with strong synergies to be realized over the next three years,” according to Wabtec.
“This is another exciting addition to Wabtec,” said Mike Fetsko, President of Wabtec’s Freight and Industrial Components Group. “Bloom Engineering is a great fit within our Heat Transfer and Energy Solutions business, and we already serve many of the same customers. Our shared vision toward driving customer productivity within their industrial processes will enable us to deliver a more comprehensive portfolio for our customers to operate more efficiently and sustainably.”
Separately, Wabtec on Dec. 19 reported celebrating with Western Railways an agreement renewing locomotive service operations at the Gandhidham Maintenance Shed in Gujarat, India, and on Nov. 12 reported expanding its transit business through the acquisitions of Fanox and Kompozitum.
HNTB
HNTB’s Northern California office has received the “2024 Corporation of the Year” award from the Conference of Minority Transportation Officials’ Northern California chapter.
“This recognition celebrates HNTB’s longstanding support for COMTO’s mission of providing full access to employment, career and contract opportunities for minorities within the transportation industry,” according to HNTB, an infrastructure firm that serves public and private owners and contractors. “HNTB was honored for its strong partnership with COMTO Northern California, including hosting the Summer Intern Reception for the past two years and maintaining the largest membership representation among large prime firms in the chapter.”
“Our partnership with COMTO is built on a shared commitment to advancing equity and empowering the next generation of transportation leaders,” commented Shannon Gaffney, HNTB’s Northern California and Nevada Office Leader and Vice President. “We are proud to collaborate with COMTO Northern California and look forward to continuing our efforts to create a more inclusive and equitable industry.”
Earlier this year, HNTB also was honored as Corporation of the Year at the 2024 COMTO National Conference.
Separately, HNTB recently named Kara Lentz as National Construction Services Leader and Shawn Stover as Senior Project Manager in Los Angeles, and Syrees Gillens Oliver as Public Engagement and Communications Leader.
