Friedrichshafen, Germany. ZF Friedrichshafen AG (“ZF”) has successfully completed the sale of R.H. Sheppard Co., Inc. (“Sheppard”) to Bendix Commercial Vehicle Systems LLC (“Bendix”) for $149.5 million. The divestment follows ZF’s acquisition of WABCO on May 29, 2020.
Sheppard is an industry-leading supplier of steering technologies for commercial vehicles. Bendix is an indirect subsidiary of Knorr-Bremse AG, a leading global supplier of braking systems and other safety-critical rail and commercial vehicle systems.
The planned sale and divestment was previously announced on January 30, 2020, in connection with the Antitrust Division of the U.S. Department of Justice's review of the merger between WABCO Holdings Inc. (“WABCO”) and ZF, and pursuant to the settlement order approved by the U.S. District Court for the District of Columbia.