Wabtec Corporation
Wabtec Announces Acquisition of Evident Inspection Technologies
Summary
Westinghouse Air Brake Technologies Corporation (Wabtec) announced on January 14, 2025, its agreement to acquire Evident Inspection Technologies, a global leader in Non-Destructive Testing, Remote Visual Inspection, and Analytical Instruments solutions for mission-critical assets, for $1.78 billion. The acquisition, which is expected to close in the first half of 2025, 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). Evident, with over 1,300 team members and four engineering and production facilities in North America and Japan, is expected to achieve approximately $433 million in revenue for calendar year 2024, with EBITDA of approximately $112 million, translating to a margin of 25.9%. This strategic acquisition significantly expands Wabtec's capabilities, adding advanced automated inspection capabilities and reinforcing its commitment to enhancing customer productivity, reliability, and safety.
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About Wabtec Corporation
Wabtec Corporation is a leading provider of technology-based equipment and services for the global rail industry. The company, formed through the merger of Wabtec and GE Transportation, specializes in developing, manufacturing, and servicing products that enhance the safety, efficiency, and productivity of freight and transit rail. Notable offerings include locomotives, control systems, and digital solutions that contribute to the optimization of rail network management. Wabtec also delivers crucial after-market services and refurbishment for railway equipment. Serving a critical role in the logistics and transportation sector, Wabtec finds its place at the intersection of innovation and infrastructure, aiding in the smooth flow of goods and passengers over vast distances. Leveraging decades of experience, the company's solutions not only support rail safety and operation but also align with broader trends in sustainability, as rail is one of the more environmentally friendly modes of transport. Headquartered in Pittsburgh, Pennsylvania, Wabtec is a major player in the transportation equipment industry, with a global footprint that underscores its importance in the rail supply chain.
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