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Hanover Evening Sun
Hanover-based company R.H. Sheppard Co., Inc., a leading manufacturer of commercial vehicle steering systems, has once again exchanged hands, according to a news release, marking the third sale in seven years.
Bendix Commercial Vehicle Systems, LLC., said on Friday, Dec. 20, 2024, that it had completed the sale of R.H. Sheppard to an affiliate of Los Angeles-based private equity firm Balmoral Funds, LLC.
The sale includes the operations, facilities and 680 employees of R.H. Sheppard across North America, of which 600 work in at the facility in Hanover. All employees will continue their employment, according to the release.
The sale will move R.H. Sheppard towards being an independent company, according to the release, under the helm of newly-appointed R.H. Sheppard CEO Kevin Stevick.
“We are thrilled to lead R.H. Sheppard into its next chapter as an independent company,” said Stevick in the release.
“As a standalone company, Sheppard now has the freedom and focus to chart its own path,” said Richard Levernier in the release, a board member of R.H. Sheppard and principal at Balmoral Funds.
The full transition is expected to be completed over the course of a year, according to the release.
The sale marked the third time in seven years that the company had changed hands, with R.H. Sheppard being acquired by Bendix from Belgian company WABCO Holdings, Inc., in 2020, following after WABCO’s acquisition of R.H. Sheppard in 2017.
Along with its main facilities and headquarters in Hanover, R.H. Sheppard runs facilities in facilities in Wytheville, Virginia., and Shelby Township, Michigan.
R.H. Sheppard was founded at its East Middle Street location in 1937 by Richard Harper Sheppard, the son of Hanover business tycoon Harper Donelson Sheppard. The company first earned its reputation from building diesel engines from 1937 to 1963, after which the company changed its focus to power steering.
Harrison Jones is the Hanover reporter for the Evening Sun. Reach him at [email protected].
