Benzinga | Jul 1, 2021 07:00AM EDT

Wabash National Announces Sale of Extract Technology to Dietrich Engineering Consultants SA

Wabash National Corporation (NYSE:WNC) today announced the sale of Extract Technology to Lausanne, Switzerland-based Dietrich Engineering Consultants SA (DEC), a portfolio company of Berlin, Germany-based capiton AG. Extract Technology, based in Huddersfield, United Kingdom, is a leading worldwide supplier of containment and aseptic systems for the pharmaceutical, healthcare, biotech and chemical markets.



"Along with our company's purpose of Changing How the World Reaches You(tm), we have refined our vision to focus on providing engineered solutions for the transportation, logistics and distribution industries," said Mike Pettit, senior vice president and chief financial officer. "Although Extract Technology is an excellent business, its solutions and customers do not align with our core markets. We believe the Extract team and its customers will thrive with DEC because it is dedicated to investing in the broader pharmaceutical and medical industries."

Extract Technology joined Wabash National in 2012 as part of the Walker Group Holdings acquisition. Extract Technology represented approximately $22M of sales in 2020 and was reported within Wabash National's Diversified Products Group segment.

"With the sale of Extract Technology, which comes on the heels of divesting Beall tank trailers and our last remaining Wabash National Trailer Center retail branch, we are confident our portfolio of businesses is well structured to support our strategic growth initiatives in the areas of home delivery, cold chain, and upfitting, parts and services," Pettit added.