Belgian commercial vehicle supplier Wabco Holdings Inc. has acquired Laydon Composites Ltd. of Oakville, Ontario, a manufacturer of aerodynamic devices for heavy-duty trucks and trailers.
Wabco, headquartered in Brussels, offers several products designed to reduce air drag and increase a commercial vehicle's efficiency, along with braking, stability control, suspension and other systems. The acquisition of LCL expands its North American market access while increasing access to LCL products worldwide.
“Joining Wabco is a tremendous opportunity for LCL, its customers and employees,” LCL President Brian Layfield said in a statement. “Both companies have a proud history of industry firsts. Together, we are poised to drive further technology innovation in aerodynamics for fleet customers worldwide.”
LCL had sales of approximately C$25 million (US$19.8 million) in 2015, according to a news release. Wabco, which is traded on the New York Stock Exchange, reported sales of $2.6 billion in the same year.