Harris Williams & Co. Advises Railroad Controls L.P. on its Sale to Wabtec Corporation

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Railroad Controls L.P. (RCL), a subsidiary of RCL Services Group, LLC and a premier railroad signal construction company, to Wabtec Corporation (Wabtec, NYSE: WAB). The transaction, which closed on February 4, 2015, was led by Joe Conner, Frank Mountcastle, Jeff Burkett and Jeff Kidd of Harris Williams & Co.’s Transportation & Logistics (T&L) Group.

“RCL has established itself as a clear leader in the railroad construction industry through its focus on quality, innovation, and customer service. Wabtec’s acquisition of RCL represents a compelling combination of two strong platforms in the rail space,” said Joe Conner, a managing director at Harris Williams & Co. “We are proud to have partnered with RCL and its shareholders to find the right strategic partner for the business to support its continued growth in the market.”

“Signaling and communications are increasingly critical elements of both freight and transit rail networks, ensuring safe and efficient operations amid growing volumes and ridership,” said Jeff Burkett, a director at Harris Williams & Co. “The sale of RCL is a significant transaction for the industry and our T&L practice and demonstrates the continued interest in the broader rail industry by both strategic and financial investors.”

RCL is one of the largest railroad signal construction companies in the U.S. and is headquartered in Benbrook, Texas. Founded in 1994, RCL has dedicated itself to providing the highest quality signal construction services to the freight and commuter rail industry. The company has more than 500 field construction managers and employees. RCL’s management team has extensive Class I railroad experience that is unsurpassed by any other signal construction company.

Wabtec, which has roots to 1869 and is headquartered in Wilmerding, Pennsylvania, is a global provider of value-added, technology-based products and services for the rail and transit industry. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements, and capital markets advisory services.

Harris Williams & Co.’s T&L Group serves companies in a broad range of attractive niches, including rail, third-party logistics (3PL), surface transportation, airport and aviation services, transportation equipment and the automotive and heavy duty vehicle market. For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorised and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.

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