Wabtec drawing on revolver for L&M Radiator purchase

By Sara Rosenberg

New York, June 16 – Wabtec Corp. is using borrowings under its revolving credit facility and cash on hand to fund its acquisition of L&M Radiator Inc., according to a news release.

L&M Radiator was bought for $230 million in cash.

Wabtec is a Pittsburgh-based provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. L&M Radiator is a Hibbing, Minn.-based manufacturer of heavy-duty equipment radiators and heat exchangers.

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