R.H. SHEPPARD FOUNDRY OPERATIONS HAVE BEEN ACQUIRED BY AN UNDISCLOSED STRATEGIC BUYER
Birmingham, Michigan – September 15, 2023 – Angle Advisors is pleased to announce that an undisclosed strategic buyer has completed the acquisition of the R.H. Sheppard Foundry Operations (“Sheppard Foundry”), a wholly owned subsidiary of Bendix Commercial Vehicle Systems LLC and a member of Munich, Germany-based Knorr-Bremse. Angle Advisors acted as the exclusive investment banking advisor to Sheppard Foundry in completing the transaction.
Located in Hanover, PA, Sheppard Foundry manufactures hydraulic ductile iron castings and green sand iron castings for use in steering systems for the global commercial vehicle industry and other industrial products. The divestiture is part of Sheppard’s overall strategic plan to optimize its North American manufacturing locations to address long-term growth and operating efficiencies – especially important in light of the continued escalated business demands for the company’s steering gear products. As part of the move, the foundry will continue as a supplier to Sheppard for steering gear castings.
“The decision to sell the foundry enables Sheppard to concentrate on its core business, enhance our overall operational efficiency, and develop new solutions to remain competitive in the markets it serves,” said John Kemer, General Manager, R.H. Sheppard Co. Inc. “Sheppard will maintain its longtime multi-plant operations in Hanover, employing over 680 people over three shifts. The company – born in Hanover and a proud community presence for over 80 years – remains a strong, stable employer focused on the future.”
R.H. Sheppard Co. Inc. has a rich history in innovative design and American manufacturing excellence. Headquartered in Hanover, Pennsylvania, the Company’s dedicated workforce of nearly 700 employees supplies components for the trucking and transportation industry worldwide. Sheppard operates 11 locations within a three-mile radius, including the foundry, plus steering gear manufacturing, machining, and assembly sites For more information, please visit www.rhsheppard.com.
Bendix Commercial Vehicle Systems LLC, the North American leader in the development and manufacture of active safety, air management, and braking system technologies for commercial vehicles, acquired Sheppard in February 2020. Bendix is a member of Munich, Germany-based Knorr-Bremse. For more information, please visit www.bendix.com.
Angle Advisors, with offices in the United States, Germany, and China, specializes in mergers and acquisitions and capital raising. The firm’s professionals have completed 284 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.