PITTSBURGH — Wabtec Corp. will acquire the Inspection Technologies division of Evident Scientific for $1.78 billion, Wabtec announced today (Jan. 14, 2025).
The acquisition adds advanced automated inspection capabilities to Wabtec’s portfolio. Inspection Technologies provides nondestructive testing, remote visual inspection, and analytical instrument products. The company has more than 1,300 employees at four engineering and production facilities in North America and Japan, as well as a geographically distributed sales force.
“The addition of Inspection Technologies aligns with our growth strategy to accelerate the innovation of scalable technologies, increase our installed base, expand high margin recurring revenues and continuously drive operational performance,” Wabtec CEO Rafael Santana said in a press release.
“I am incredibly excited to partner with Evident’s talented Inspection Technologies team to further enhance our presence in key markets and applications,” said Nalin Jain, president of Wabtec’s Digital Intelligence Group. “… Inspection Technologies will augment our existing offerings in the rail, mining and industrial sectors while broadening our reach into other high growth, high margin complementary sectors.”
Inspection Technologies, headquartered near Boston, is expected to reach approximately $433 million in revenue in 2024. Its addition effectively doubles the total addressable market for Wabtec’s Digital Intelligence business from approximately $8 billion to $16 billion.
