US group buys Napier Turbochargers

US-based Wabtec Corporation has bought Napier Turbochargers, which is one of the UK’s oldest engineering companies, with 150 employees at its Lincoln headquarters and a turnover of about £35 million. The deal comes less than five years after investment firm Primary Capital bought Napier from Siemens.

Albert Neupaver, Wabtec’s president and chief executive officer, said: “Napier has a reputation for quality products and services and is well positioned in growing markets. We expect to take advantage of its global presence and growth opportunities in key markets, such as Asia.”

Napier was formed in the early 1800s and initially produced steam-powered printing machinery. It now manufactures turbochargers for diesel, heavy-fuel and gas engines.

Wabtec is a global provider of technology-based products and services, primarily for the rail and transit industry. With its headquarters in Pennsylvania, it was formed by the merger of the Westinghouse Air Brake Co and Motive Power Industries Corporation in 1999.