March 18 (Reuters) - Wabtec said on Tuesday it

has agreed to buy train coupler maker Dellner Couplers from

private equity firm EQT for $960 million in cash, as

the heavy industrial parts maker looks to strengthen its

passenger rail business.

The deal, to be financed through cash on hand and short-term

debt, is expected to boost Wabtec's high-margin recurring

revenue and enhance its operational performance.

"Dellner Couplers provides significant synergies by

complementing our core transit systems portfolio, servicing a

joint customer base and leveraging our strong service

capabilities," Wabtec CEO Rafael Santana said.

Sweden-based Dellner Couplers, which EQT acquired in 2019,

makes train connection systems, with production, assembly and

aftermarket services facilities in 13 countries.

Pittsburgh, Pennsylvania-based Wabtec - a provider of

equipment, systems and aftermarket services for freight and

transit rail industries - expects the deal to boost its adjusted

profit in the first year of ownership.