WABCO, a global supplier of safety and efficiency technologies for commercial vehicles, has acquired MICO Inc., a global supplier of hydraulic components, controls and brake systems for heavy-duty, off-highway vehicles in agriculture, construction, mining and similar industries. MICO generated revenues of approximately $52 million in 2015 and is headquartered in North Mankato, Minnesota.

A longtime supplier of pneumatic braking systems, WABCO is expanding its product offerings through the acquisition to become one of the only suppliers with a portfolio of complete pneumatic and hydraulic braking and control systems for off-highway vehicles worldwide, according to the company.

In addition, the acquisition harnesses synergies between the two companies. WABCO’s strong global presence provides increased access to growth markets and customers worldwide for MICO products. In return, WABCO gains improved access to the off-highway market in North America while expanding its operational footprint in the region. Both companies also will be able to build on demonstrated world-class engineering and manufacturing capabilities.

“WABCO continues to extend its technology leadership position in the commercial vehicle industry to the off-highway market worldwide,” said Jacques Esculier, WABCO chairman and CEO. “The acquisition of MICO provides us with access to new growth opportunities in the off-highway industry, thereby, enabling WABCO to sustain its outperformance and drive shareholder value.”

“We are excited to welcome our MICO colleagues to the WABCO family,” said Nick Rens, WABCO president, trailer systems, Aftermarket and Off-Highway Division. “Over the past 70 years, MICO has become an industry leader in the field of hydraulic braking and control systems for the off-highway market. WABCO’s and MICO’s engineering capabilities, product offerings and market presence match perfectly. We are well-positioned to deliver an unprecedented level of product choice, quality and service to off-highway customers around the globe. Together, we are poised to take our off-highway business to the next level.”

MICO maintains a total of five locations — three in the United States, one in Mexico and one in the United Kingdom. The company has approximately 260 employees, and was previously privately owned and operated.