ATTLEBORO – Sensata Technologies Holding N.V. has announced the acquisition of Wabash Technologies Inc., a manufacturer of custom-designed sensors headquartered in Troy, Mich.
An affiliate of Sun Capital Partners Inc., Wabash employs about 960 people and operates manufacturing facilities in Huntington, Ind., and Mexicali, Mexico. Its product line includes speed sensors, rotary and linear position sensors, and engine-timing sensors. The company also supplies fuel-injection stators and actuators for diesel engines.
“This transaction aligns with Sensata’s previously announced objective to execute on acquisitions that are close to our core business. Acquisitions such as this will help us achieve our target operating model of double-digit revenue growth during times of core market headwinds,” said Martha Sullivan, president and CEO of Sensata Technologies. “Wabash’s position in the magnetic, speed and position-sensing market builds on current Sensata capabilities and provides new capabilities in throttle-position and transmission-range sensing while enabling additional entry points into the important heavy vehicle and off-road market.”
Wabash’s customer base includes major U.S. and European manufacturers and systems suppliers serving the automotive, heavy vehicle, agriculture, construction and off-highway markets. Wabash is expected to generate revenues of approximately $75 million in 2013.
Terms of the acquisition were not disclosed. The transaction is not subject to regulatory review and is expected to close in January, Sensata said.