AUSTRIA: Wheel detection and axle-counting system supplier Frauscher Sensor Technology announced on October 24 that it had been acquired by New York-based private equity investor Greenbriar Equity Group and its existing management team led by CEO Michael Thiel. Terms were not disclosed.
Greenbriar specialises in investment in the transport sector, and Thiel said its ‘extensive experience and relationships’ would be ‘invaluable’ as Frauscher expands in North America and introduces new technologies.
Greenbriar Managing Director Michael Weiss said Frauscher was a ‘clear technology and quality leader’, and the investor looked forward to supporting the company’s growth. ‘We are particularly excited about Frauscher’s opportunities to leverage its differentiated product offering within new and existing geographic markets and develop innovative products’, he said.
