Wabtec has completed the acquisition of Inspection Technologies division of Evident, strengthening its Digital Intelligence business with industry-leading inspection technologies.
Wabtec acquired Evident’s Inspection Technologies division for USD 1.78 billion a transaction financed through a combination of cash on hand, newly issued term notes, plus term loans and short-term borrowing under the company’s credit agreement.
The transaction is anticipated to provide immediate shareholder value with a high single-digit revenue growth outlook, accretive Adjusted EBIT margins and accretive return on invested capital (ROIC) over time. Additionally, the acquisition is projected to be slightly accretive to Adjusted EPS in the second half of 2025.
“We are a stronger company with the addition of Inspection Technologies. The acquisition expands and strengthens our Digital Intelligence business, with advanced products and services for the company’s rail, mining, and industrial sectors, while broadening our reach into other high-growth, high-margin end-markets,” Rafael Santana, CEO of Wabtec, said.
The strategic acquisition helps accelerate Wabtec’s growth trajectory and meets the increasing demand for advanced diagnostic technologies. It also aligns with Wabtec’s stated growth drivers, including accelerating the innovation of scalable technologies, increasing the installed base, expanding high-margin recurring revenues, and driving continuous operational improvements.
Additionally, acquiring Inspection Technologies expands Wabtec’s Digital Intelligence business growth opportunities and recurring revenue, effectively doubling the size of its total addressable market from approximately USD 8 billion to USD 16 billion, while enhancing its ability to deliver innovative solutions to a broader range of customers.
Evident’s Inspection Technologies Division was established in 2022 when Olympus Corporation spun off its Scientific Solutions Division to form a new company. The division delivers solutions that solve complex challenges, inspecting mission-critical assets and infrastructure with nondestructive testing, remote visual inspection, and analytical instruments for maintenance, manufacturing, and environmental applications.
Share on:
