Houlihan Lokey Advises R.H. Sheppard
Houlihan Lokey is pleased to announce that R.H. Sheppard Co., Inc. (Sheppard), a wholly owned subsidiary of Bendix Commercial Vehicle Systems LLC (Bendix) and Knorr-Bremse AG, has been acquired by Balmoral Funds LLC (Balmoral). This transaction closed on December 20, 2024.
Sheppard is a leading North American provider of steering technologies for heavy-duty commercial vehicles, delivering safety-critical steering solutions to support performance and reliability. The company was founded in 1937 and is headquartered in Hanover, Pennsylvania.
Bendix, a North American subsidiary of Knorr-Bremse, develops and supplies leading-edge active safety technologies, energy management solutions, and air brake charging and control systems and components. The company’s intelligent, integrated solutions help deliver maximum vehicle performance, safety, and overall operating cost. Knorr-Bremse (KBX.DE) is the global market and technology leader for braking systems and a leading supplier of other rail and commercial vehicle systems.
Balmoral is a Los Angeles-based private equity fund founded in 2005 with approximately $1.3 billion of assets under management.
Houlihan Lokey served as the exclusive financial advisor to Bendix and Knorr-Bremse and assisted in initiating, structuring, and negotiating the transaction on their behalf. This transaction demonstrates Houlihan Lokey’s continued excellence in leading complex corporate carve-outs and expertise within the commercial vehicle and broader automotive space.