Riverside Manufacturing Inc. of Fort Wayne has acquired Transportation Safety Technologies Inc., an Indianapolis maker of wiring harnesses, sensors and other electronics for trucks and emergency vehicles, the companies plan to announce today.
Transportation Safety Technologies is near downtown on the northeastside and was owned by Arcapita, a Bahrain-based investment firm with an office in Atlanta.
Riverside Manufacturing makes electrical relays and switches. Owned by Fred Merritt, the company has 330 employees and generates $47 million in revenue.
Riverside received $20 million from Cratos Capital Partners of Alpharetta, Ga., to fund the acquisition.