WABCO Acquires Off-Highway Brake Specialist MICO
By Mike Brezonick03 February 2016
WABCO, a global supplier of stability, suspension, transmission automation and aerodynamic systems for commercial vehicles, announced it has acquired MICO Inc., the North Mankato, Minn., privately held specialist in hydraulic components, controls and brake systems for heavy-duty, off-highway vehicles. No financial details were provided.
“We are excited to welcome our MICO colleagues to the WABCO family,” said Jon Morrison, WABCO President, Americas. “We are committed to growing our off-highway business worldwide and to strengthen our presence in North America. MICO is key to our growth and expansion.”
MICO generated revenues of approximately $52 million in 2015. In addition to the headquarters location, MICO maintains two locations in the United States and one each in Mexico and the United Kingdom. The company has approximately 260 employees.
Through the acquisition, WABCO said it will offer a portfolio of complete pneumatic and hydraulic braking and control systems for off-highway vehicles worldwide. In addition to products, WABCO said both companies will build on demonstrated world-class engineering and manufacturing capabilities.
“We are thrilled to join WABCO, a technology leader in the commercial vehicle industry that is known and respected worldwide,” said Brent McGrath, MICO president. “This acquisition presents exciting new opportunities for MICO, our customers, and our employees. We look forward to working with our new colleagues to leverage our respective strengths to better serve customers in the off-highway industry.”