Frauscher Sensor Technology has been acquired by New York-based private equity firm Greenbriar Equity Group LLC.
Although details of the transaction haven’t been released, Greenbriar has said Frauscher has been acquired with the company’s existing management team.
Frauscher supplies wheel detection and axle counting systems for rail networks around the world. One of its products, the Frauscher Tracking Solutions (FTS) system, uses acoustic sensing to listen for defects in the condition of trains and infrastructure.
Announcing the acquisition, Greenbriar said the deal will support Frauscher’s expansion into the North American market.
Michael Weiss, managing director at Greenbriar, said: “Frauscher has established itself as the clear technology and quality leader in the industry.
“We are excited to partner with Michael Thiel and his team and look forward to supporting the company during its next growth phase. We are particularly excited about Frauscher’s opportunities to leverage its differentiated product offering within new and existing geographic markets and develop innovative products.”
Michael Thiel, chief executive of Frauscher, added: “This is an exciting time for the entire Frauscher organisation.
“We are eager to work with Greenbriar as our new partner to continue to implement our growth strategy. Their extensive experience and relationships in the rail industry will be invaluable as we expand our presence in North America and introduce new technologies into the marketplace.”