WABCO Acquires MICO Inc., Supplies Pneumatic and Hydraulic Braking Worldwide
WABCO, global supplier of pneumatic braking systems, acquires MICO Inc., adding hydraulic components, controls, and braking systems to its product lines. Through the partnership, WABCO will become the first supplier of complete pneumatic- and hydraulic-braking control systems for heavy-duty, off-highway vehicles worldwide.
WABCO leverages its strong global presence to bring MICO’s large spread of products to a variety of industries worldwide including agriculture, construction, and mining. Together, the companies plan to develop demonstrated world-class engineering and manufacturing capabilities.
“We are excited to welcome our MICO colleagues to the WABCO family,” says 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. Over the past 70 years, the team at MICO has done a tremendous job of developing world-class products and engineering and manufacturing capabilities. We are honored and excited to be taking the next steps with them.”
MICO generated revenues of approximately $52 million in 2015 and is headquartered in North Mankato, Minn.. MICO also maintains two other locations in the United States, and two more in Mexico and the United Kingdom. The company has approximately 260 employees. MICO was previously privately owned and operated.
